WITH the ink barely dry on the Victorian State Budget handed down almost a fortnight ago, Victorian businesses have been hit with a double whammy of another lockdown, and this time without Job Keeper (a Federal Government initiative). The State’s toilers and heavy lifters must be scratching their heads as they ponder the cost of existence in Victoria and that this fourth lockdown will more than likely not be our last.
It appears we’re all in for a long haul on the tax front. Of course, that’s for those who pay tax. Whether you’re a large, medium or small employer, business is under siege to perform.
And if you happen to be successful in business, you are taxed substantially more.
The State Government announced in the latest budget an increase in duties on land, investment properties and developers. It also announced an increase in payroll tax to 9,000 of the state’s largest employers. Do we think that the State Government will stop there? I don’t think so.
Since when is a new tax rescinded?
Since when was an existing tax reduced without another tax introduced in its place.
New taxes complicate an already unwieldy tax and legal system. Payroll tax was supposed to have been abolished by the States when GST was introduced in 2000 but guess what? It’s still here and it’s being increased.
Big government spells big taxes.
A bloated public service at all levels of government equates to inefficiencies and greater taxes.
By the way, if you’re caught with a traffic infringement, and quite often you aren’t aware of it at the time, you have to cough-up an additional 10 per cent, yet another increase in taxes in this year’s State budget.
