The Bass Strait Passenger Vehicle Equalisation Scheme (BSPVES) is an Australian Government initiative that offers uncapped federal funding to subsidise the cost of ferry travel across Bass Strait. This scheme primarily supports services operated by the Tasmanian Government-owned TT-Line Company Pty Ltd, linking the state of Victoria on the Australian mainland with the island state of Tasmania. The BSPVES also includes provisions for commuters who must fly between mainland Australia and King Island or the Furneaux Group due to the absence of ferry services.[1]
In 2022-2023, the BSPVES expended a total of $59.2 million. The most recent adjustment to the scheme’s rebate amounts was made on 7 May 2024, with the new rates effective from 1 July 2024.[1]