![]() ![]() He says if the change resulted in additional charges in the thousands it would hurt, but “that’s the way it is”. “Is it reasonable for one of the things to focus on people who have some capacity to pay? And is it likely to be the case if someone has a second, third or fourth home? I don’t think it’s an unreasonable cohort to seek from,” he says. The 69-year-old says “it would be silly” to expect things would go on as normal after the pandemic without a change to how people contribute to tax. ![]() I don’t have any doubt about that,” he says.Įast Brighton resident Leigh Powell was philosophical about changes to how second properties and holiday homes were taxed. “The state government’s raised considerable debt for its COVID-related support programs. Leigh Powell, a small business mentor and strategist from East Brighton, says his holiday home on Phillip Island would be hit by the broadening of the tax on multiple properties. However, they said it was “fantastic” to see $50 million spent on greater access to public fertility care, having used IVF themselves and incurring significant out-of-pocket costs.Ībdullah says it was good that nine new public schools for Melbourne’s fast-growing suburbs included one in Wollert, but he wouldn’t be sending his kids there because he was concerned with the broader public education system. “I don’t think they have balanced the right areas.” “It could’ve been better,” Abdullah says. Credit: Jason SouthĪfter the budget was released, the couple were disappointed, particularly with cuts to public servants, and thought there was limited further childcare help. Zeyneb Gokler and Abdullah Altintop with their children Safiye, 4, and six-month-old Salih. Victoria’s infrastructure agenda is taking 21 per cent longer to build than the government expected a year ago, blowing out by a combined $565 million as labour and material shortages bite.Ĭommercial and industrial property buyers will no longer pay stamp duty in Victoria following announcement by the Andrews government that it would abolish the lump-sum payment in favour of an annual property tax in coming years.Tuesday’s budget also committed an additional $677 million in other flood recovery measures. Regional Victorians will benefit from $2.8 billion in government spending over the next 10 years in a bid to fix the state’s roads, following the devastating October floods. The cost-cutting measure forms part of a $31.5 billion COVID debt repayment plan. Treasurer Tim Pallas vowed on Tuesday to bring back the public sector towards pre-pandemic levels, revealing the government would slash up to 4000 public sector jobs over the next year. Victorians with second homes or investment properties will pay a new flat rate tax of up to $975, plus an additional levy on the value of their land from January 1, 2024. The boost to payroll taxes and land taxes will collectively raise $8.6 billion over four years. ![]() Victoria’s debt will continue to rise from $135.4 billion in 2023-24 to $171.4 billion by 2026-27, despite the government clawing back more than $10 billion in four years from the two tax hikes and public sector job cuts.Let’s take a quick look back at the key information from today’s budget papers: Thanks so much for joining us today, it’s been fantastic to have your company. Our live coverage of the 2023-24 state budget has now come to an end. ![]()
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