The Royal Commission into Victorias Mental Health System outlined a 10-year plan to transform the states mental health and wellbeing system. The Rural and Regional Budget Information Paper summarises the Governments priorities for rural and regional Victoria. $24.5 million for boosting waterway health to support the long-term wellbeing and prosperity of Victorian communities who depend on healthy waterways and catchments. 2, Victorias Economic Bulletin, Volume 6, No. In 2021-22, Victoria will operate at a deficit of $11.6bn, but Mr Pallas forecast that to reduce to about $2bn in four years. Yes, mental health and wellbeing are critical, as highlighted by the findings from the Royal Commission, and these mental health initiatives are welcome. maintenance of spiritual and cultural practices and their $46 million to fund a $3,000 subsidy for Victorians who purchase Zero Emissions Vehicles. 1, Victorias Economic Bulletin, Volume 6, No. 1 and No. Finally, $180M over four years has been budgeted to commence development of the former General Motors Holden site at Fishermans Bend into a centre of innovation in advanced manufacturing, engineering and design. The 2021-22 Victorian Budget included various significant transfer (stamp) duty changes, comprising duty concessions for purchases of properties within the City of Melbourne local government area, a widening of the off-the-plan duty concession for home buyers, as well as the pre-announced increase in the rate of duty for purchases of properties worth over $2 million. From 1 July 2021, the payroll tax-free threshold is increased from the current level of $650,000 to $700,000. The purpose of the Portfolio Additional Estimates Statements (PAES) is to inform Senators and Members of Parliament and the public of the proposed allocation of resources to government outcomes by agencies within the relevant portfolio. But the budget is optimistic that the state will bounce back, and is tipping a return to a surplus of about $650 million in 2025/26. $62.9 million to maintain essential energy functions while ensuring that retailers respect the rights of vulnerable customers through the Energy Fairness Plan. Rising debt Tips 2. The budget papers forecast this revised wages policy will deliver $1.88B in savings over the forward estimates (over four years). Payroll tax. Budget Paper 5 provides the financial details of the aggregated Victorian general government sector and the broader Victorian public sector. We are committed to genuinely partner, and meaningfully $41.65 million has been provided for a range of initiatives to assist communities impacted by the 2019-20 Victorian bushfires. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. Tobin Partners Pty Ltd, Lawyers and Notaries, with offices in Brisbane, Sydney and Melbourne is one of the few legal firms in Australia, who are specialising in payroll tax. 3, Victorias Economic Bulletin, Volume 6, No. 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. However, a threshold of $10M means the levy will impact an estimated 9000 businesses, many of which could best be described as only medium-sized. As such, the PAES provides information on new measures and their impact on the financial and non-financial planned performance of agencies. 2021-22 State Budget The 2021-22 State Budget was delivered on Thursday 20 May 2021. IF YOU'RE PARENTS OF YOUNG CHILDREN This year's budget will see the introduction of kinder for every three-year-old child, to rollout in regional Victoria first. 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. Improving our states planning system and speeding up the delivery of housing and infrastructure projects in our growing communities. Address: 30-38 Little Malop St, Geelong 3220, Address: 71 Hotham Street, Traralgon 3844, Open: 9am - 12pm and 1pm - 3pm Monday to Thursday, Closed: Friday, Message from the Secretary and staff networks, Listening and acting on community and stakeholder feedback, Victorian Science and Planning Graduate Program, Australian Standard for Fraud Corruption Control, North EastCatchment Management Authority, EastGippsland Catchment Management Authority. The 2021-22 Victorian Budget has been delivered with key takeaways highlighting a reliance on new taxes and an increase to existing ones. Putting Patients First | Victorian Budget 21/22 | Victorian Budget Menu Putting Patients First This is a Budget that puts patients first. 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. The following Australian Government Agencies' held their Portfolio Aditional Estimate Statements on their websites at the time of release. 21 hours ago . Of note, $16.2M is provided to strengthen the Department of Treasury and Finances monitoring of the states infrastructure pipeline and undertake capital project assurance reviews. Treasurer of the State of Victoria Victorian Budget 2021/22 SERVICE DELIVERY Budget Paper No. $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 Victorian Budget 21/22 contains $19B in output initiatives and $7.1B in assets. 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. To come into effect on 1 January 2022, this levy will apply to the Victorian wages which are paid by businesses with an Australian wages bill in excess of $10m. $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. Assets expenditure is focussed on maintaining existing assets or creating new assets. Budget Paper No. Budget Paper No. Budget priorities include funding more mental health beds and services for families, young people, carers and supporters. The budget provides projections of government revenue and expenditure for the following year, and outlines services to be delivered. Funding will also continue coordination of practical placements for TAFE students, including students in the allied health, individual support and community services, early childhood and education, and training sectors. Victorian State Budget 2021-22 announcements. 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. We stood by the Victorian community with support of more than $44 billion to respond to the pandemic and keep workers in jobs and businesses afloat. $5 million to plant trees in Melbournes west to reduce the risk of heat stress, create access to green spaces and improve overall air quality. Funding of $206 million is set aside to strengthen the mental health workforce, with more mental health nurses, doctors, allied health professionals and support staff. 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. By way of comparison, this week's federal budget has outlined a spending program that will see 90 per cent of additional expenditure in the first two years of the forward estimates. Agencies receive resources from the annual appropriations acts, special appropriations (including standing appropriations and special accounts), and revenue from other sources. The purpose of the Portfolio Budget Statements (PBS) is to inform Senators and Members of Parliament of the proposed allocation of resources to government outcomes by agencies within the relevant portfolio. The Budget papers are split into five sections and are supported by Budget Information Papers (BIPs). 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. Download the Gender Equality Budget StatementExternal Link (PDF, 1.1 MB), Download the Gender Equality Budget StatementExternal Link (DOC, 75 KB). $28.18 million to create liveable communities, boost jobs and support a neighborhood-focused economic recovery. The deficit is projected to shrink to $7.9 billion in 2022-23, $3.3 billion then $1.1 billion before building to an operating surplus of $650 million by midway through 2026. Category 3 and No. In this sense the PAES are declared by the Additional Estimates Appropriation Bills to be a 'relevant document' to the interpretation of the Bills according to section 15AB of the Acts Interpretation Act 1901. We acknowledge and respect Victorian Traditional Owners I also wonder whether this budget really will stimulate jobs and opportunities across non-construction and infrastructure sectors. Download the Suburban Budget Information PaperExternal Link (PDF, 1.3 MB), Download the Suburban Budget Information PaperExternal Link (DOC, 84 KB). '$' marks the spot with this budget, plunging victoria into record levels of debt and tracking to spend $49 billion over the next four Freedom of Information Part II Information Statement, Statement 3: Freedom of information arrangements, Statement 5: Rules, policies and procedures, 2022 Victorian Economic and Fiscal Update, A flow decomposition of the unemployment rate in Victoria, Evaluating the effect of cutting the regional payroll tax rate, The economic impacts of the 2019-20 bushfires on Victoria, Victorias Economic Bulletin, Volume 6, No. 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. 2021-22 Budget Update Each year, the Victorian Government produces a mid-cycle review of the annual State Budget. 2, Victorias Economic Bulletin, Volume 6, No. Funding is also allocated to continue St Kilda Road tram services during construction of the Melbourne Metro Tunnel. $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. $31.68 million for Parks Victoria to continue the Park Rangers program, retain 57 park rangers and support staff roles and help meet unprecedented visitor demand, enabling dedicated rangers to undertake critical fire management roles and deliver important planning for Wattle Park in Burwood. They can move to annual reporting and payment rather than monthly, from 1 July 2021. Save. 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. Phone: 03 5336 6856 The State Budget provides a comprehensive program of work to ensure the new mental health and wellbeing system meets the needs of Victorians. After a delayed 2020-21 budget on account of COVID-19, this budget was back in its traditional May timeslot. Download the Rural and Regional Budget Information PaperExternal Link (PDF, 1.4 MB), Download the Rural and Regional Budget Information PaperExternal Link (DOC, 85 KB). Open: 9am to 4.30pm, Monday to Friday, Address: 71 Hotham Street, Traralgon 3844 $323.6 million to deliver critical bushfire and land management actions, continue actions initiated in the Safer Together and Reducing Bushfire Risk programs and enable Forest Fire Management Victoria (FFMVic) to continue to deliver an enhanced fuel management program keeping communities and the environment safe. Please contact the National Relay Service on 2 outlines the State's current and expected economic and financial performance and outlines the Government's fiscal and economic strategy. Such an approach would in turn lead to more sustainable job gains. It paves the way for major reform and builds on work already underway. Output initiatives are those that involve operational expenditure and can include consultancies and contracts, as well internal costs. Download Budget Paper 2: Strategy and OutlookExternal Link (PDF, 1.6 MB), Download Budget Paper 2: Strategy and OutlookExternal Link (DOC, 946 KB). Open: 9am - 12pm and 1pm - 3pm Monday to Thursday, Closed: Friday, Address: 609 Burwood Hwy, Knoxfield 3180 The Victorian Government's net debt is projected to rise to $154.8 billion by the year 2023-24, with net debt in 2020-21 a colossal $86.7 billion. Funding is provided to support the operation of Ethical Clothing Australia and the accreditation process for the Ethical Supplier Register. 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. The Department of Premier and Cabinet, via Digital Victoria and Service Victoria, has the largest technology programs, including: The Office of Parliament is also spending close to $9M to 1) implement cybersecurity systems testing, training and awareness programs, 2) improve incident response mechanisms, 3) embed 24-hour cyber event logging and 4) upgrade existing information and communication technology security systems. 3, Victorias Economic Bulletin, Volume 6, No. This reduced compliance was previously available only to businesses with a payroll tax liability of $40,000 or less. the long-awaited victorian state budget for 2020-21 has been uncovered from government headquarters like lockdown's treasure map to (economic) riches, meeting responses ranging from nodding to head-scratching. 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