Today, Ai Group, a nationwide employer organization, warned the Victorian State Budget will hurt thousands of Victorian businesses.
Victorian firms have seen payroll taxes, WorkSafe premiums, and property tax rises this week.
Tim Piper, Victorian Head of Ai Group, said there had been a 41% payroll tax hike for major firms over the previous two years, a 42% WorkSafe premium increase announced last week, and huge land tax increases across a wide variety of stakeholders.
Mr. Piper said the Budget discouraged Victorian investment, affecting both firms and consumers.
“The Government has considered saddling businesses with significant extra costs that can only make the cost of doing business in the State much higher,” he added.
“Government-imposed taxes may influence business decisions rather than investment opportunity.
“Companies may not benefit from comparing Victoria to other states or countries for investment.”
Mr. Piper praised the steady stamp duty decrease on commercial insurance.
Ai Group welcomes the Government’s move away from stamp duty on commercial properties and encourages it to do the same for residential properties to boost investment and labor mobility.