Recognising the longstanding policy priority of Victorian Chamber members and businesses across the state, the Liberal National Coalition launched its election campaign with a welcome commitment to cut payroll tax.
Victorian Chamber of Commerce and Industry Chief Executive Mark Stone AM said Victoria’s regional businesses stand to benefit following the Coalition’s announcement to cut the payroll tax rate in regional Victoria from 2.425% to 1%.
“This pro-business commitment will reduce the cost of doing business in regional Victoria and will help stimulate business opportunities and jobs growth.
“The Victorian Chamber has been a strong advocate for payroll tax reform, securing an increase to the threshold and two successive cuts to the regional payroll tax rate in recent years,” Mr Stone said.
Regional Victoria contributes nearly 20% of Victoria’s annual economic output and is home to more than 130,000 businesses.
Victoria’s regional businesses have done well to take advantage of strong global interest in Australian food and fibre, and tourism. The potential