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Cutting Payroll Tax in regional Victoria

Member for Western Victoria, Simon Ramsay has welcomed the Liberal Nationals announcement to cut payroll tax for regional Victorian businesses.

Mr Ramsay has argued for the tax reduction throughout his eight years in the Victorian Parliament.

“While I may be exiting politics, the decision by the Liberal Nationals is something I have fought for rigorously within the Coalition,” Mr Ramsay said.

“It is a tax that hurts the very people and groups we should be helping – small business.  They are the lifeblood of regional Victoria – and indeed – across the nation.

“Taxing people simply because they are employing people makes little sense and is contrary to our plans to decentralise Victoria’s population growth.

Announced at the Coalition’s campaign launch yesterday, the payroll tax cut is aimed solely at regional businesses.  It will cut the tax rate to less than one quarter of the standard 4.85 %.

It will apply to qualifying business with a current 2.425% rate to just 1%.

About 4,000 business will qualify for the concessional rate – so long as the employer is in regional Victoria and 85 % of their employees are based in regional Victoria.

“Right now, every lever needs to be pulled to re-shape our state’s growth.  The regions can handle growth but need support to ensure it is sustainable and achievable,” said Mr Ramsay.

“I am very pleased that my urging of this policy has come to fruition.

“Throughout my term, I have consistently argued the case for regional Victoria – be it for better roads, or fairer rating systems.

“Reducing payroll tax for regional businesses is part of the sensible mix that makes regional Victoria a special place to live, work and raise a family.”