Original article by Shannon Deery
Herald Sun – Page: 7 : 24-May-23

Victoria’s Treasurer Tim Pallas says the Covid debt levies announced in the state’s 2023 budget are temporary, targeted and responsible. Victorians who own holiday homes and investment properties will pay a new land tax which is expected to raise around $4.7bn over the forward estimates period and will remain in place for a decade. There are fears that the levy will worsen the housing crisis by pushing up rents and deterring investment in the rental market. The government also expects to raise $3.9bn via a new payroll tax levy on businesses with a wages bills of more than $10m. The state’s own wages bill is forecast to rise by $5bn over the next four years, despite plans to shed up to 4,000 public sector jobs. Opposition leader John Pesutto says the budget is mean and nasty, adding that it shows that Victoria is broke.

CORPORATES
VICTORIA. DEPT OF TREASURY AND FINANCE, LIBERAL PARTY OF VICTORIA