Payroll tax: And a new levy will charge companies an extra 0.5 per cent payroll tax if they pay more than $10million in wages, with the proceeds being ring-fenced to help fund $3.8 billion on mental health spending. 'Labor hates wealth creators and is now going to hurt property owners and job creators with a tax assault on Victoria.' 'It doesn't make sense to target employers with a payroll tax hike which will hamstring their ability to create jobs and drive the recovery.' New and increased property taxes will exacerbate the housing affordability crisis and come down hardest on the lowest income Victorians,' said Research fellow Cian Hussey. 'The increase in the payroll tax will drive jobs out of Victoria at a time when Victorians need them most.'

Source: Daily Mail May 21, 2021 07:22 UTC