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The Palaszczuk government’s new mental health levy will hit big companies that have an annual wages bill of more than $10 million.

Advertisement The Victorian government has committed to a $3.8 billion overhaul of the state’s struggling mental health system after the state’s royal commission found it had “catastrophically failed to live up to expectations”. A new tax on businesses with more than $10 million in wages nationally will raise more than $800 million a year to bankroll the changes to mental health to rebuild the failing system. But State Opposition Leader Michael O’Brien said he was opposed to the mental health levy and would lobby the crossbench to vote against it. “You don’t...

Winners Growth areas $492m for 13 new schools on Melbourne’s fringe. A further $276.4m will be spent to acquire land in growth areas. Early childhood education Kinder for three-year-olds and four-year-olds in every local government area from 2022, $401m. Losers Regional Victoria No funding for new schools in the regions, just 18 of 52 school upgrades are outside Melbourne. International students No plans to bring students back this year and no support for 120,000 who stayed in Victoria last year. A dozen new schools in Melbourne’s growth areas will be built by 2023. Credit:Simon S...

New Business Levy to Fund $3.8B Mental Health Reform: Victorian Budget Victorian-based businesses will be levied with a new surcharge to rebuild the state’s “broken” mental health system, according to the state’s newly released 2021-22 budget. On Thursday, Treasurer Tim Pallas revealed the state of Victoria’s economy, which is expected to reach a net debt of $102.1 billion this year and increase to $156.3 billion in 2024-25. The state has responded with a suite of new taxes to balance the books, as well as new initiatives targeting the health, education, and transport sectors. The n...