The State Government’s budget will see major improvements for Victorian Automobile Chamber of Commerce members with welcomed cuts to land tax.
 
VACC Senior Manager for Government and Public Affairs, David Russell, said VACC was generally pleased with the budget outcomes.

“We’ve pretty much received what we’ve been lobbying the Government for, for some time,” he said.

“VACC has been asking for reduced land tax for small businesses, reduced payroll tax (down from 5.5% to 5%) and reduced red tape, all of which have been delivered.

“But land tax still needs to be constrained by indexation to lessen the effects of property value increases and the temptation for Governments to take windfall tax gains when the property market escalates.

“Small businesses want a fair tax that does not threaten business viability.

“We would also like the opportunity for businesses to pay land tax by instalments, with a common date of issue and payment. This could be easily done and should be made available as soon as possible.”

Mr Russell said that while VACC was pleased with the Budget, the Government would still need to remain focussed on land tax in the future, keep a weather-eye on business taxes generally, and ensure that Victoria grows in stature as a business-friendly State.