culture and traditional practices. 2), Financial Report (incorporating Quarterly Financial Report No. $3M has been funded for the design and business case for demolition and redevelopment of Central Pier at Docklands, and $11.2M to support the operations of Puffing Billy. Overall, it feels like the Victorian Budget 21/22 has fallen a little short of the mark from a business and industry perspective. By way of comparison, this week's federal budget has outlined a spending program that will see 90 per cent of additional expenditure in the first two years of the forward estimates. Click to DOWNLOAD Victoria State Budget 2021-2022 Summary Budget Paper No. $517 million for forest and fire management to address the need to protect our communities and environment and reduce the risk of bushfires in a changing climate. There is also some much-needed leadership on climate action, which young people see as essential to their future. Taxation revenue is forecast to increase by 13.2% in 2021-22, partly due to economic conditions recovering from the COVID-19 pandemic slump and the introduction of new taxes. 4, Mid-Year Financial Report (inc. 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Visit the Victorian Budget website for more information. Unique Homes. Save. $4.7M is provided to construct and operate a, $500M over four years to expand and improve, $72.4M for Bendigo Kangan Institutes Broadmeadows. $341 million in programs that will protect our climate future, enhance and care for our forests, parks and wildlife while supporting Victorians to continue to enjoy the outdoors. The Rural and Regional Budget Information Paper summarises the Governments priorities for rural and regional Victoria, including projects in jobs, education, health, emergency services and infrastructure investment. $49.73 million for water sector initiatives that improve the health of key waterways and provide immediate benefits to regionaleconomies. $62.9 million to maintain essential energy functions while ensuring that retailers respect the rights of vulnerable customers through the Energy Fairness Plan. knowledge and wisdom has ensured the continuation of Funding is also allocated to continue St Kilda Road tram services during construction of the Melbourne Metro Tunnel. $2.89 million funding is provided to support Victorian wildlife centres and shelters, enabling rehabilitation of injured and orphaned wildlife and support of wildlife rehabilitators. The 2021-22 Victorian State Budget invests a record $3.8 billion in mental health and wellbeing. The Final Budget Outcome for 202122 financial year was released on 28 September 2022. The 2021-22 Victorian Budget included various significant transfer (stamp) duty changes, comprising duty concessions for purchases of properties within the City of Melbourne local government area, a widening of the off-the-plan duty concession for home buyers, as well as the pre-announced increase in the rate of duty for purchases of properties worth over $2 million. Budget Paper 5 provides the financial details of the aggregated Victorian general government sector and the broader Victorian public sector. An interesting note is that no funding was allocated in this budget to further the digital twin pilot budgeted last year under DELWP. The government states that this new levy is targeted towards those large organisations that can absorb it. For regional employers, from 1 July 2021, the payroll tax rate is reduced from 2.02% to 1.2125%. Local news, sports, business, politics, entertainment, travel, restaurants and opinion for Seattle and the Pacific Northwest. The Charter of Budget Honesty Act 1998 requires that a Final Budget Outcome be released no later than three months after the end of the relevant financial year. If these changes impact your business and you would like to discuss your payroll tax situation, please contact me for an initial discussion. $37.92 million will allow for the delivery of community-centred Forest Management, empower Traditional Owners to manage Country and continue the important work currently underway. Funding will also continue coordination of practical placements for TAFE students, including students in the allied health, individual support and community services, early childhood and education, and training sectors. However, the eye-watering number is not as high as originally forecast last year, with a $23.3 billion deficit initially predicted in November. For regional employers, from 1 July 2021, the payroll tax rate is reduced from 2.02% to 1.2125%. However, a threshold of $10M means the levy will impact an estimated 9000 businesses, many of which could best be described as only medium-sized. The full budget papers are available at https://www.dtf.vic.gov.au/state-budget/2021-22-state-budget. The 2021-2022 Victorian Budget invests a total of $3.5 billion in education, including $716 million in school programs and support to educators. The Budget Overview summarises the State's economic and fiscal outlook, and the Government's strategic priorities and objectives. 1, Victorias Economic Bulletin, Volume 6, No. It is, Treasurer Cameron Dick has announced Qlds State Budget for 2022/23 which includes payroll tax relief for an estimated 12,000 SMEs. Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an additional tax based on payrolls for others. 3, Victorias Economic Bulletin, Volume 6, No. . Visit budget.vic.gov.au. There is a similarly . 3. Phone: 03 8624 5704 Tips 2. The State Budget 2021/22 will include a significant $1.5 billion investment in rolling stock to make commuting more comfortable and reliable. These payroll taxes, overlaid with the cost of doing business in Victoria (think labour hire licence and other compliance costs), compounded by the lack of government investment in businesses, will impact the number of new businesses coming to the state and, I think, business investment. Output initiatives are those that involve operational expenditure and can include consultancies and contracts, as well internal costs. It paves the way for major reform and builds on work already underway. It provides an overview of the investments that departments and government-controlled entities will deliver in the coming financial year. Victoria's population growth is expected to grow slightly in 2021-22, rising further by 1.2 per cent in 2022-23, as Announced in the Budget is. The 2021-22 State Budget was announced on 20 May 2021. 4, Mid-Year Financial Report (inc. Quarterly Financial Report No. Victorian Budget 2021/22 includes vital funds to support people and pets impacted by family violence Pets will no longer be silent victims of family violence, with the Victorian Government's announcement today that $1.3 million in funding is included in the Victorian Budget 2021/22 to support victim survivors and their pets. The compliance burden has also been reduced for business that have an annual payroll tax obligation of $100,000 or less. Address: 30-38 Little Malop St, Geelong 3220, Address: 71 Hotham Street, Traralgon 3844, Open: 9am - 12pm and 1pm - 3pm Monday to Thursday, Closed: Friday, Message from the Secretary and staff networks, Listening and acting on community and stakeholder feedback, Victorian Science and Planning Graduate Program, Australian Standard for Fraud Corruption Control, North EastCatchment Management Authority, EastGippsland Catchment Management Authority. Phone: 03 5172 2111 This will support implementation of the Fair Jobs Code, which was flagged as a Labor election commitment in 2018, including undertaking education and compliance activities. $8.4 million to ensure water markets are working effectively for irrigation communities and provide extension services to capture the benefits of the Goulburn Murray Water Efficiency Project. as the original custodians of Victorias land and waters, This State Budget responds to the Royal Commissions recommendations. You should only rely on the exact detail of the changes once the legislation is passed. Here's what's in it for you. Open: Not open to the public, Address: 30-38 Little Malop St, Geelong 3220 Rising debt In this sense the PBS are Budget related papers and are declared by the Appropriation Bills to be 'relevant documents' to the interpretation of the Acts according to section 15AB of the Acts Interpretation Act 1901. The levy or surcharge will be 0.5% on wages in excess of $10m and 1% on those in excess of $100m. This includes the development of standards to encourage fair conduct and accountability by platform businesses and to improve transparency between these businesses and the workers they engage. Victoria State Budget 2020-21: Kick-starting the post-pandemic economy with major tax cuts Corrs Chambers Westgarth. $8.53 million to address the impacts of mining on groundwater in and around central Bendigo - with $3.53 million to develop and design a long-term solution and $5 million to extend current groundwater management arrangements. These benefits then flow down the business food chain. $5 million to plant trees in Melbournes west to reduce the risk of heat stress, create access to green spaces and improve overall air quality. This includes commencement of remediation works, installation of essential utility services, and establishment of road access to the University of Melbournes future School of Engineering campus scheduled to open in 2024. 5: Statement of Finances provides the financial details of the aggregated Victorian general government sector and the broader public sector. $46 million to fund a $3,000 subsidy for Victorians who purchase Zero Emissions Vehicles. While the full details have yet to be released, we can provide the following summary of the relevant state tax measures which have been announced. $616,000 to support the operation of the Geelong Authority, to provide strategies to attract investment to central Geelong and create jobs and drive growth as part of the Governments 10-year Revitalising Central Geelong Action Plan. Load More . From 1 July 2021, the payroll tax-free threshold is increased from the current level of $650,000 to $700,000. $1.5 million to continue the delivery of safe powerlines to the Victorian community, including a business case development for future technology-led investment that reduces powerline-related bushfire risk. Visit the Victorian Budget website for more information. The initiatives summarised below focus only on the headline opportunities for businesses to seek to work and engage with the Victorian government. bringing forward to 1 July 2021 the previously announced increase to the tax-free payroll tax threshold from $650,000 to $700,000; reducing the payroll tax rate for regional employers from 2.02% to 1.2125% from 1 July 2021; removing the indexation freeze on fee and penalty units, resulting in a 10% increase in fines and penalties from 1 July 2021; Assets expenditure is focussed on maintaining existing assets or creating new assets. $51.94 million for unique biodiversity protection through community driven action, $8.8 million for the Port Phillip Bay Fund, $5.79 million for a wildlife protection and support package, $4 million in funding for Trust for Nature. Victorian Land Tax revenue is expected to increase by 15% in 2021-22 and will grow by 9% per annum over the forward estimates. 2020-21 Budget. Budget Information Paper: Rural and Regional, Budget Information Paper: Gender Equality Budget Statement, Download the Rural and Regional Budget Information, Bringing the Commonwealth Games to our regions. While the PAES include an Agency Resource Statement to inform Parliament of the revised estimate of the total resources available to an agency, the focus of the PAES is on explaining the changes in resourcing since the Budget. This investment will mitigate the risk of major tram service disruptions and ensure the system can continue to operate while a replacement system is developed. 2021-22 State Budget The 2021-22 State Budget was delivered on Thursday 20 May 2021. > Victorian State Budget 2021-22: Significant Tax Changes & Their Impact On Private Business On 20 May 2021, State Treasurer Tim Pallas handed down the 2021/22 Victorian state budget. This will encourage new jobs and integrate more large-scale renewables and distributed energy resources in Victoria. The performance of the tram network will also be enhanced through the installation of nonmountable tram kerbs in six Melbourne CBD locations; this will better separate trams and road traffic to prevent collisions, improve safety and reduce travel disruptions. To come into effect on 1 January 2022, this levy will apply to the Victorian wages which are paid by businesses with an Australian wages bill in excess of $10m. The VSA will develop platforms to make information available to support decisions by industry, providers and students. communities to support the protection of Country, the The policy will be adjusted, with a reduction in the guaranteed annual base increase from 2 to 1.5%. Phone: 03 5430 4444 Please note that due to the age of these documents they may not meet current web publishing requirements and may not be compatible with some software. The Rural and Regional Budget Information Paper summarises the Governments priorities for rural and regional Victoria. $2.5 million to support a zero-tolerance approach to water theft by strengthening compliance and enforcement approaches, investing in measures to maintain confidence in water reliability for entitlement holders and addressing the risks posed by climate change to water availability. Victorian treasurer Tim Pallas is congratulated by premier Daniel Andrews after delivering the 2022 budget. Funding is provided to support the operation of Ethical Clothing Australia and the accreditation process for the Ethical Supplier Register. 20/05/21. Featured videos. $4 million to replace the wastewater plant and sewerage network at Mt Baw Baw Alpine Resort. We acknowledge and respect Victorian Traditional Owners The PAES facilitate understanding of the proposed appropriations in Appropriation Bills (No. They can move to annual reporting and payment rather than monthly, from 1 July 2021. The Budget Update provides revised estimated financial statements relative to the previous Budget, including the projected outcome for the end of the current financial year and revised estimates for the forward years. It's our Pandemic Repair Plan for more staff, better hospitals and first-class care. The budget papers on Tuesday will. 1 and No. 2. It outlines the Government's priorities for the services it provides and sets out the costs of the services for Victorians. $6.56 million to continue the implementation of Plan Melbourne, the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050. Budget Paper 1 is the speech the Treasurer gives to outline the Budget to Parliament and Victorians. 1, Victorias Economic Bulletin, Volume 6, No. 67% The following Australian Government Agencies' held their Portfolio Aditional Estimate Statements on their websites at the time of release. The Office of the Local Jobs First Commissioner and Industry Capability Network Victoria will be resourced to oversee and enforce compliance with the Local Jobs First Act 2003 and the Local Jobs First Policy. 2) 20212022, Appropriation (Parliamentary Departments) Bill (No. The Victorian Budget 2021-22 includes announcements related to the State Revenue Office. Thus the increased wages bill should not be attributed solely to COVID support measures. Freedom of Information Part II Information Statement, Statement 3: Freedom of information arrangements, Statement 5: Rules, policies and procedures, 2022 Victorian Economic and Fiscal Update, A flow decomposition of the unemployment rate in Victoria, Evaluating the effect of cutting the regional payroll tax rate, The economic impacts of the 2019-20 bushfires on Victoria, Victorias Economic Bulletin, Volume 6, No. $22.6 million together with $6.3 million in ongoing funding will provide direct resources to formally recognised Traditional Owner groups to reinvigorate Cultural Fire on Country. Further information can be accessed under State Budget papers. The Royal Commission into Victorias Mental Health System outlined a 10-year plan to transform the states mental health and wellbeing system. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. Its our Pandemic Repair Plan for more staff, better hospitals and first-class care. The ESC will also report on the outcomes of these trials and make recommendations to the government on ways to further reduce red tape for the energy sector. Assets expenditure is focussed on maintaining existing assets or creating new assets. The Victorian Government acknowledges Aboriginal and Torres Strait Islander people as the Traditional Custodians of the land and acknowledges and pays respect to their Elders, past and present. The following Australian Government Agencies' held their Portfolio Budget Statements on their websites at the time of release. Read more about the mental health budget highlights. $110.4 million to build on the record $1.6 billion Clean Energy Package in the 2020-21 Budget while enhancing our energy security and lowering powerline-related bushfire risk. Published Jun 9, 2021 + Follow Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an. TheVSA will be an anchor organisation, bringing together industry, providers and other stakeholders to produce insights on priority training areas, and inform an annual Victorian Skills Plan to better guide training delivery where its needed most. Please contact the National Relay Service on $31.68 million for Parks Victoria to continue the Park Rangers program, retain 57 park rangers and support staff roles and help meet unprecedented visitor demand, enabling dedicated rangers to undertake critical fire management roles and deliver important planning for Wattle Park in Burwood. 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