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From the Chief Executive - 23 June 2017

Submitted on Friday, 23rd June 2017

From the Chief Executive - 23 June 2017

The Victorian Chamber this week launched its winter Business Excellence magazine which I am delighted to share with you all. This ‘Energy’-themed edition explores a very timely topic, currently dominating the news and important to many of our members who are uncertain how much energy will cost them to keep their business going.

In this issue, politicians share their views on what should be done to ensure businesses have access to reliable and affordable energy. We also showcase Victoria-based businesses and universities that have been making great strides in innovations and services that improve energy efficiency and sustainability, spanning areas such as advanced manufacturing, infrastructure and renewable energy. Energy security and affordability has been a key focus of the Victorian Chamber’s policy and advocacy activities this year and we outline our policies in this issue also.

Meanwhile, this week I joined the Victorian Treasurer at a media conference to highlight the payroll tax reforms that were brought before Parliament.

The Victorian Chamber has long advocated for the payroll tax-free threshold to be increased, and the Victorian Government has supported our position.

As announced in the May Budget, Victoria’s payroll tax-free threshold will increase to $625,000 from 1 July this year, and to $650,000 from 1 July 2018, saving about 38,000 Victorian businesses up to $48 million.

The payroll tax rate will also be reduced by 25 per cent in regional Victoria – from 4.85 per cent to 3.65 per cent. This significant reduction will benefit about 4,000 businesses in our regions, making regional Victoria’s payroll tax rate the lowest in the country.

This is good for small business in Victoria and particularly good for small business in regional Victoria.

Mark Stone AM

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