It also includes capital programs and projects currently underway or in progress, and lists projects expected to be completed in the coming year. The Rural and Regional Budget Information Paper summarises the Governments priorities for rural and regional Victoria. Funding is provided to support the operation of Ethical Clothing Australia and the accreditation process for the Ethical Supplier Register. From 1 July 2021, the payroll tax-free threshold is increased from the current level of $650,000 to $700,000. Victoria's population growth is expected to grow slightly in 2021-22, rising further by 1.2 per cent in 2022-23, as Announced in the Budget is. culture and traditional practices. This summary focuses on the particular announcements affecting the Property & Construction Sector. The 2021-22 State Budget was announced on 20 May 2021. Treasurer of the State of Victoria Victorian Budget 2021/22 STRATEGY AND OUTLOOK Budget Paper No. 1: Budget Strategy and Outlook, Budget Paper No. 2021-22 Budget Update Each year, the Victorian Government produces a mid-cycle review of the annual State Budget. Download Budget Paper 2: Strategy and OutlookExternal Link (PDF, 1.6 MB), Download Budget Paper 2: Strategy and OutlookExternal Link (DOC, 946 KB). Budget Paper 5 provides the financial details of the aggregated Victorian general government sector and the broader Victorian public sector. $15M is provided to establish the Office of TAFE Coordination and Delivery as a separate business unit in the Department of Education and Training, to lead strategic projects and enhance collaboration across the TAFE network. Ever since the pandemic reached our shores, weve acted quickly to protect our people and our economy. If these changes impact your business and you would like to discuss your payroll tax situation, please contact me for an initial discussion. This includes funding for the Office of Projects Victoria to identify and remove barriers to construction efficiency. Budget Information Paper: Rural and Regional, Budget Information Paper: Gender Equality Budget Statement, Download the Rural and Regional Budget Information, Bringing the Commonwealth Games to our regions. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. $4 million to replace the wastewater plant and sewerage network at Mt Baw Baw Alpine Resort. Open: Not open to the public, Address: 30-38 Little Malop St, Geelong 3220 The Royal Commission into Victorias Mental Health System outlined a 10-year plan to transform the states mental health and wellbeing system. Putting Patients First | Victorian Budget 21/22 | Victorian Budget Menu Putting Patients First This is a Budget that puts patients first. $46 million to fund a $3,000 subsidy for Victorians who purchase Zero Emissions Vehicles. Download the Budget OverviewExternal Link (PDF, 2.4 MB), Download the Budget OverviewExternal Link (DOC, 115 KB). 3 and No. In addition, heavy vehicles that are entering a local traffic area must obtain an access permit. The funding includes: $218 million for a School Mental Health Fund allowing schools to select and implement mental health and wellbeing programs and connect to specialists services. Download the Gender Equality Budget StatementExternal Link (PDF, 1.1 MB), Download the Gender Equality Budget StatementExternal Link (DOC, 75 KB). The Victorian Budget 2022/23 includes a range of initiatives demonstrating the Victorian Government's commitment to equality for all Victorians. This would generate savings that could be used to fund some of the programs in the budget, without increasing taxes to businesses. 2, Victorias Economic Bulletin, Volume 6, No. 4), A starter guide to financial management in government, Financial reporting directions and guidance, Annual leave and long service leave arrangements, Standing Directions 2018 Under The Financial Management Act 1994, Planning, Budgeting and Financial Reporting Frameworks, Corporate planning and performance reporting requirements, Financial management annual compliance reports, Victorian risk management framework and insurance management policy, Machinery of government changes - VPS operating manual, Barwon Water Biosolids Management Project, Biosciences Research Centre Project (AgriBio), Fulham Correctional Centre Contract Extension Project, Ground Lease Model project (Public Housing Renewal Program - Package 1), Melbourne Exhibition Centre Expansion Project, Port Phillip Prison Contract Extension Project, Royal Melbourne Showgrounds Redevelopment, Partnerships Victoria - 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Open: 8.30am to 4.30pm, Monday to Friday, Address: 89 Sydney Rd, Benalla 3672 $22.6 million together with $6.3 million in ongoing funding will provide direct resources to formally recognised Traditional Owner groups to reinvigorate Cultural Fire on Country. While the full details have yet to be released, we can provide the following summary of the relevant state tax measures which have been announced. Budget Paper 4 describes the Victorian Government's asset investment program. Featured videos. The Victorian Budget 21/22 contains $19B in output initiatives and $7.1B in assets. Not to mention the numerous authorities that have sprung up across government in recent times, each with their own corporate functions, infrastructure costs, etc. $8.74 million over 2 years for the Conservation Regulator to ensure the effective regulation and protection of Victorias wildlife and forests. The Budget allocates $1.08 billion for DELWP portfolios to help the department continue our work creating thriving communities and environments and contributing to Victorias economic recovery. connection to it. The Victorian Government released its 2021-22 budget on 20 May 2021. Phone: 03 5172 2111 Publication DOCX PDF; Final Budget Outcome 2021-22 : 3.1MB: Preliminaries: 62KB: 296KB: Part 1: Australian Government Budget Outcome 2021-22: 212KB: 808KB: Part 2: Australian Government Financial Statements: 271KB: 1.8MB: '$' marks the spot with this budget, plunging victoria into record levels of debt and tracking to spend $49 billion over the next four A shift which may have implications for medical practices in regard to payroll tax obligations. 1:01pm May 20, 2021 Victoria has recorded a monster deficit of $17.4 billion in the 2020-21 financial year and is forecast to remain in a shortfall until at least 2025, according to the State Budget. The Gateway Review Process will also be improved to better identify risks and manage potential cost pressures. The Budget papers are split into five sections and are supported by Budget Information Papers (BIPs). Media releases from the 2021-22 State Budget. 1 and No. The Victorian Academy of Teaching will be a new specialist statutory entity with a dedicated focus on delivering advanced professional learning for Victorian teachers and educational leaders. From 1 January 2022, land tax rates for larger property holdings will increase by: 0.25 percentage points for taxable landholdings exceeding $1.8m; and 0.3 percentage points for taxable landholdings exceeding $3m. The Budget delivers $1.5 billion in community-based care, so Victorians can access services closer to home. Savings could have been made by a stronger focus on efficiency gains, delivered in partnership with business, rather than raising taxes. $21.2 million to establish the Office of Bushfire Risk Management within the Department of Environment, Land, Water and Planning (DELWP), to lead and coordinate the implementation of evidence-based fuel management policy, practice, assurance and reporting across all land tenures. The Department of Treasury and Finance acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. 5: Statement of Finances provides the financial details of the aggregated Victorian general government sector and the broader public sector. up close to communities or when weather conditions are not suitable). Taxation revenue is forecast to increase by 13.2% in 2021-22, partly due to economic conditions recovering from the COVID-19 pandemic slump and the introduction of new taxes. Visit the Victorian Budget website for more information. In its State Budget handed down on 20 May 2021, the Victorian Government announced the following initiatives that are favourable for taxpayers: Increase in the tax-free threshold for payroll tax from $650,000 to $700,000 brought forward to 1 July 2021 Visit budget.vic.gov.au. The funding is provided to maximise government procurement opportunities for local businesses and workers. The Victorian State Budget for 2021/22 was released by Victorian Treasurer Tim Pallas on Thursday 20 May 2021. Download Budget Paper 5: Statement of FinancesExternal Link (PDF, 2.8 MB), Download Budget Paper 5: Statement of FinancesExternal Link (DOC, 1.4 MB). $62.9 million to maintain essential energy functions while ensuring that retailers respect the rights of vulnerable customers through the Energy Fairness Plan. $527.2 million to build 13 new schools that will open in 2024, as well as additional stages at four schools. Rising debt In his budget address, Treasurer Tim Pallas did admit the big increase of public sector workers during 2021-22 was unsustainable, and attributed the rise to employing more public sector workers during the pandemic. Protecting our environment for Victorians to enjoy while addressing climate change and contributing to the states economic recovery. More than $400M of funding has been provided to deliver enabling infrastructure to support the deployment of NextGeneration Trams, including construction of a new tram maintenance facility in Melbournes north-west, upgrades to Southbank Depot and land acquisition for new power substations. The 2021-22 Victorian Budget has been delivered with key takeaways highlighting a reliance on new taxes and an increase to existing ones. 3, Victorias Economic Bulletin, Volume 6, No. In my view, the budget does not provide sufficient investment in the programs required by the Victorian government to generate the operating efficiencies targeted in this budget, or greater. The Charter of Budget Honesty Act 1998 requires that a Final Budget Outcome be released no later than three months after the end of the relevant financial year. 2020-21 Budget. 4: State Capital Program, describes the Victorian Government's asset investment program. The compliance burden has also been reduced for business that have an annual payroll tax obligation of $100,000 or less. While this is expected to represent less tax payable by around 42,000 businesses, it is still well below the threshold of other states and territories which are in the $1m-$2m range. Click to DOWNLOAD Victoria State Budget 2021-2022 Summary The budget provides projections of government revenue and expenditure for the following year, and outlines services to be delivered. The levy or surcharge will be 0.5% on wages in excess of $10m and 1% on those in excess of $100m. However, the Treasurer also announced an additional tax which is based on payrolls the Mental Health and Wellbeing Levy. Unique Homes. $341 million in programs that will protect our climate future, enhance and care for our forests, parks and wildlife while supporting Victorians to continue to enjoy the outdoors. However, there are very real and obvious savings that could be generated through consolidating and transforming public sector operations. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. The Budget allocates $1.08 billion for DELWP portfolios to help the department continue our work creating thriving communities and environments and contributing to Victoria's economic recovery. It outlines the Government's priorities for the services it provides and sets out the costs of the services for Victorians. Following the trend set by the Australian Government, the Victorian Budget 21/22 continues to focus on fiscal policy to generate economic growth. Not only does the Victorian Budget 21/22 have minimal spend for businesses outside construction and infrastructure, it also carries a Department of Premier and Cabinet directive to reduce spend on consultancies and contractors. $41.65 million has been provided for a range of initiatives to assist communities impacted by the 2019-20 Victorian bushfires. While there are initiatives that appear to be aimed at stimulating jobs across other sectors such as the $50M allocated towards a vaccine manufacturing capability, $160M for the tourism industry and $288M for creative industries these seem more about maintaining the jobs we have. Open: 8.30am to 4.30pm, Monday to Friday, Address: 1-7 Taylor St, Epsom 3551 Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an additional tax based on payrolls for others. The measures are listed here, along with their expected start date. Open: 9am to 4.30pm, Monday to Friday, Address: 71 Hotham Street, Traralgon 3844 3. Output initiatives are those that involve operational expenditure and can include consultancies and contracts, as well internal costs. east Parking safety Know how to keep your passengers and vehicle safe when parking. Unique Homes. Save. TheVSA will be an anchor organisation, bringing together industry, providers and other stakeholders to produce insights on priority training areas, and inform an annual Victorian Skills Plan to better guide training delivery where its needed most. The VSA will develop platforms to make information available to support decisions by industry, providers and students. Bringing the Commonwealth Games to our regions. Please contact the National Relay Service on They can move to annual reporting and payment rather than monthly, from 1 July 2021. Published Jun 9, 2021 + Follow Treasurer Tim Pallas delivered the Victorian State Budget for 2021/22 on 20 May with relief in regard to payroll tax for some businesses but with an. Specialising in payroll tax law, we are ideally placed to assist businesses to optimise their situation, Peter Tobin, Tobin Partners Lawyers peter@tobin.net.au 0438 001 809, To view or add a comment, sign in $8.53 million to address the impacts of mining on groundwater in and around central Bendigo - with $3.53 million to develop and design a long-term solution and $5 million to extend current groundwater management arrangements. as the original custodians of Victorias land and waters, The PBS provides information, explanation and justification to enable Parliament to understand the purpose of each outcome proposed in the Bills. 2021-22 Victorian State Budget 25 May 2021 In brief The 2021-22 Victorian State Budget was delivered on 20 May 2021 by Treasurer Tim Pallas. 2. If these changes impact your business and you would like to discuss your payroll tax situation, please contact me for an initial discussion. Improving our states planning system and speeding up the delivery of housing and infrastructure projects in our growing communities. Building on past funding programs, the government quite rightly continues to invest in maintaining emergency service infrastructure, including: Construction continues unabated across police, schools, hospitals and TAFEs: $265M has been budgeted to upgrade and maintain several metropolitan and regional roads, including making the Calder Freeway safer. $21 million to boost the Victorian Planning Authoritys capacity to continue delivering the Streamlining for Growth initiative and complete precinct plans for some of the states fastest growing suburbs and regional cities. Be used to fund some of the annual State Budget, rather than raising taxes currently underway in. Puts Patients First this is a Budget that puts Patients First this a! Papers ( BIPs ) Paper summarises the Governments priorities for Rural and Budget. 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