The charity event, where participants ride or walk a variety of distances, was cancelled last week.
This year's edition was set to be the 13th running of the event.
In a statement, Bega executive chairman Barry Irvin said it was a disappointing decision to make.
“After careful consideration we have decided to cancel the TAT200 for 2020,” Irvin said.
“We are disappointed to make this decision, as advised earlier in the year we will continue to endeavour to conduct our corporate event at Bega that was scheduled for March at an appropriate date later in the year if at all possible.”
Irvin thanked stakeholders for their support is looking ahead to next year's event.
“As we are all aware in these uncertain times it is particularly difficult to plan for large get togethers and social events,” Irvin said.
“While the TAT200 is some way off we feel it is appropriate that we make an early decision regarding the staging of the event with of course our first priority being the health and safety of all involved.
“Thank you for your many years of support and participation in the TAT200, I look forward to being back on the bike and seeing you all in 2021.”
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