Mark Stone AM
News 7 June 2019

From the Chief Executive 7 June 2019

Last week, the Andrews Government delivered the first budget of its second term. Following consistent advocacy by the Victorian Chamber, we were pleased to see the 2019-20 budget include an increase in the payroll tax threshold to $700,000 by 2022-23, and cuts to the regional payroll tax rate to 1.21 per cent over the same period.

We know that 40,000 businesses have benefitted from our recommendation to lift the payroll tax threshold and saved over $300 million. Not only that, but businesses have received $1.1 billion in tax cuts since 2015, which is a direct result of our advocacy on their behalf.

While we welcome the State Government’s payroll tax threshold increase to $700,000, we will continue to advocate for an increase to $850,000, so that Victorian businesses are able to compete on a level playing field with their Australian counterparts. The payroll tax in Victoria is a long-game for the Victorian Chamber and ultimately, we will get further benefits for business.

We were pleased to see regional Victoria well recognised in the budget, with the adoption of the Victorian Chamber’s recommendation to introduce a 50 per cent stamp duty concession for commercial and industrial property transactions in regional Victoria. This $70 million saving will provide a positive incentive for business investment and location in regional Victoria. To view more of the Victorian Chamber's key results for business, click here.

The day after handing down the State Budget, we were delighted to be joined by Treasurer of Victoria, Tim Pallas MP, for our fourth consecutive Post Budget lunch. It was a pleasure to again deliver this event in partnership with the Melbourne Press Club, and to welcome over 450 members of the business community to hear the Treasurer outline key features of the 2019-20 budget and its impact on business competitiveness, jobs and investment.

In other news, the Andrews Government has committed to introduce new workplace manslaughter laws imposing fines of around $16 million and up to 20 years jail for employers responsible for negligently causing death. We are actively working with four other employer associations on the Workplace Manslaughter Implementation Taskforce, urging the Victorian Government to get these new laws right.

On a final note, last week, we were also delighted to present a Victorian Chamber business breakfast, featuring renowned speaker, humanitarian, retired British Army Officer, former terrorism & war crimes prosecutor and best-selling author, Rabia Siddique.

More than 250 guests were inspired by Rabia’s remarkable and brave story of battling with discrimination, abuse, chronic illness and PTSD – and were moved by her insights on what it means to display moral courage, leadership and integrity in the face of adversity and sacrifice. Thank you to Rabia, Major Sponsor CareSuper and all attendees for joining us for another successful Victorian Chamber event.

Media Contact

All media enquiries may be directed to the Media and Communications Manager

03 8662 5310

0423 883 945

media@victorianchamber.com.au

For all other enquiries please contact the Victorian Chamber on 03 8662 5333

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