Victorian Treasurer Tim Pallas. Source: AAP/James Ross
Victorian Treasurer Tim Pallas has today unveiled the state’s post-pandemic budget, announcing a raft of measures to support small businesses including changes to payroll tax.
For small businesses in the state, the payroll tax-free threshold will increase to $700,000 and the regional payroll tax rate will be cut to 1.2%.
Treasurer Tim Pallas also announced further funding for wage subsidies, business events, distillery venues, and a plan to revitalise the CBD.
“We’re focused on helping those who need it the most vulnerable Victorians, struggling small businesses, job seekers and families,” he said.