Zug system for Tasmania- Would it work?

http://www.time.com/time/magazine/article/0,9171,2040142-1,00.html
The above link to an article about an obscure town in Switzerland whose economy profits from the non physical presence of global corporations, is interesting as Tasmania needs an economy not based on development or increased population.
 Tasmania might benefit from becoming a banking low tax island dominion and places such as Jersey, Guernsey, Isle of Mann and Zug have got systems to look to for Tasmania's future.
 Locals get reduced rates for housing so they are not priced out of the market and everyone profits. The traditional pace of life is preserved as population is not increased just capital base.   In this way the wildlife and habitat could stand a chance and mainland Australia could also benefit from proximity to the financial products available and from reduced Commonwealth funding required to keep Tasmania afloat.