| Media item | |
| | Vic govt deals a "cruel hand" | GoAuto News,
Sandringham
by John Mellor
| 31 May 2023 | | General News - Page 34 - 208 words - ID 1861372541 - Photo: Yes - Type: News Item - Size: 333.00cm2 | |
VACC says business will bear the main burden of massive Victorian government debt recovery
VICTORIAN businesses have been dealt "a cruel hand" in the recent Andrews government's state budget, according to the Victorian Automotive Chamber of Commerce (VACC) but there have been significant wins for LMCT traders in terms of what the chamber managed to "stave off".
"There are some positive elements in the Budget, such as the raising of the payroll Geoff G tax-free threshold to $900,000 from July 1 next year which is good news for small business, and the gradual removal of stamp duty on commercial insurance, overall Victorian businesses have been unfairly penalised," VACC CEO Geoff Gwilym said in a statement.
"But the COVID-19 Debt Levy will saddle many Victorian businesses with high costs for the next 10 years," Mr Gwilym said.
"There are also significant increases to land tax and WorkSafe premiums." Mr Gwilym warned: "These may result in decreased investment or a shift by many businesses interstate.
"Ultimately, and given the payroll tax changes, wilym there is a real risk fewer apprentices will be employed by medium and large businesses in Victoria. This extends to group training organisations who have a large payroll bill, while placing apprentices in employment." Geoff Gwilym
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