The Victoria’s state government will not provide payroll tax relief for businesses in the next financial year as it prioritises health spending and a budget surplus.
The latest state budget released on May 3 predicted that land and payroll tax revenue for the state would rise by $4.8 billion (US$3.48 billion) and $6.8 billion, respectively, in the 2022-2023 financial year.
During a post-budget Victorian Chamber of Commerce and Industry lunch on May 4, Victorian Treasurer Tim Pallas rejected the idea of relieving the state’s businesses of paying rising payroll taxes after two years of devastating lockdowns.
“No, not in this budget,” he said.
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