The competition is drawn directly from the best features of the Mille Miglia, the Coupe des Alpes and the Tour de Corse. However, Targa Tasmania is not a slow-motion re-run in "historic mode". It is genuine "red blooded" motor sport competition. It is also a unique annual opportunity for the owners of sports cars and GTs to drive them the way they were designed to be driven on some of the most exciting and challenging tarmac roads in the world.

Targa Tasmania caters for 280 select cars including many overseas competitors. Entries are selected from Applications to compete, by a Vehicle Selection Committee. Invitations to Compete in each year’s event are announced on a progressive basis from August through to 1 April (close of entries).

Targa Tasmania has quickly established itself as an annual event, conducted in April each year. The present format is to conduct the event over six days (including a Prologue) on some 2,000 kilometres of tarmac roads. From 1998 onwards there are three competitions within the event – Targa Tasmania Historic, Classic and Modern.

Entrants nominate in one of nine recognised vehicle categories based on the age of the vehicle nominated:

• Category 1 Vintage (1900-1930)
• Category 2 Post Vintage (1931-1946)
• Category 3 Historic (1947-1961)
• Category 4 Post Historic (1962-1965)
• Category 5 Early Classic (1966-1971)
• Category 6 Late Classic (1972-1976)
• Category 7 Post Classic (1977-1981)
• Category 8 Early Modern (1982-1990)
• Category 9 Contemporary (1991-1998)

The three competitions cover the nine categories as follows:

* A special category 2 exists for Targa Tasmania Classic to allow Historic vehicle owners to choose in which competition they compete. Category 7 vehicle owners have a similar choice between the Classic and Modern competitions.

The competition design of Targa Tasmania also recognises that the entrants of the true to type cars are not disadvantaged by having to compete directly against substantially modified cars of the same type. Accordingly, the event provides for cars to be classified into two broad Sections, Standard Specification – for those cars which do not depart significantly from the manufacture’s specification, and Modified Specification – for those which have been further developed. The event encourages participation of both types of vehicle by providing separate Category and Class systems for cars of each Specification.

The running order of the competition is decided on the Prologue Day, held on a closed road town stage the day before the competition commences. The start order is based on the slowest car starting first and the fastest last.

Targa Tasmania entrants comprise a wide range of media-attracting personalities including former World Champions and other well-known motor sport competitors from both Australia and overseas, as well as national and international celebrities. In short, this is not only a competitive motor sport event. It is a unique commercial and tourist attraction capturing the imagination of the Australian public as well as the national and international motor sport fraternity.

Tourism Tasmania has announced that more than 200,000 people, per annum, watch Targa Tasmania each year over the six days.

Targa Tasmania 1998 will again be conducted over six days of competition including the BHP Prologue Targa Stage on the eve of the event, with accompanying social and other activities. It will dominate the media and public interest for at least two weeks in Tasmania and there will be significant media reporting on mainland Australia for at least four to six weeks prior to the event and significantly longer in Tasmania.

Targa Tasmania has the support and backing of the Confederation of Australian Motor Sport – CAMS, as well as the International Motor Sport Federation –FIA. The Tasmania Government rates this special event as having a substantial commercial contribution as well as being a major tourist attraction to the State and active support is provided by the TDR (Tasmania Development & Resources). Thus, Targa Tasmania is another example of the successful partnership between Government and Motor Sport.

Indeed, it is the goal of the Tasmanian Government to see Targa Tasmania develop into the premier motor sport event of its type in Australia, ranking alongside the Australian Grand Prix in Melbourne and Rally Australia in Perth.