SUPPORTING BUSINESS

This year we delivered a number of significant initiatives aimed at supporting employers across the state, chiefly via the Victorian Government’s payroll tax changes.

The Victorian Government brought forward, by 12 months, its previously announced payroll tax threshold increase, with the threshold for 2017-18 set at $625,000 rather than the expected $600,000.

A reduced payroll tax rate of 3.65 per cent was made available to qualifying regional businesses from 1 July 2017, with another reduction to 2.425 per cent available to qualifying regional businesses from 1 July 2018.

Also this year, the Victorian Government announced that a new exemption for wages paid to a new apprentice or trainee by an approved group training organisation will be extended to include for-profit organisations that are declared an approved group training organisation from 1 July 2018.