2 outlines the State's current and expected economic and financial performance and outlines the Government's fiscal and economic strategy. However, there are very real and obvious savings that could be generated through consolidating and transforming public sector operations. 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. 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. This mode of direct government spending typically stimulates economic activity in a more sustainable manner over funding programs. You must have JavaScript enabled to use this form. Historical Budget documents are available for reference purposes. $40.6M, over four years, has been allocated to maximising local jobs and local content. Photograph: Joel Carrett/AAP Tue 3 May 2022 13.30 EDT Last modified on Wed 4 May 2022. The debt is set to be a burden for future . 3: Federal Financial Relations, Appendix B: Total payments to the states by function*, Appendix E: Appropriations and conditions*, Building a more secure and resilient Australia, Mid-Year Economic and Fiscal Outlook 202122, Part 1: Australian Government Budget Outcome 202122, Part 2: Australian Government Financial Statements, Part 3: Australias Federal Financial Relations, Part 3: Australias Federal Financial Relations - Attachment A, Appendix A: Expenses by Function and Sub-function, Appendix B: Historical Australian Government Data, Agriculture, Water and the Environment Portfolio, Education, Skills and Employment Portfolio, Industry, Science, Energy and Resources Portfolio, Infrastructure, Transport, Regional Development and Communications Portfolio, Department of the House of Representatives. $76.43 million to ensure the EPA continues to provide vital regulatory functions and effectively implements Victorias new environment protection framework. However, the Treasurer also announced an additional tax which is based on payrolls the Mental Health and Wellbeing Levy. We honour Elders past and present whose 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 Explore our solutions Win more government business and contracts. Victorian State Budget 2021-22 The Victorian Treasurer, Tim Pallas MLA, handed down the Victorian State Budget on Thursday 20 May 2021. Please note that due to the age of these documents they may not meet current web publishing requirements and may not be compatible with some software. Assets expenditure is focussed on maintaining existing assets or creating new assets. $1.41 million was provided to assist public land and waterway managers reduce the risk of coronavirus (COVID-19) transmission and other risks associated with increased visitation to public land and waterways throughout Victoria over summer 2020-21. 2), Financial Report (incorporating Quarterly Financial Report No. The Mid-Year Economic and Fiscal Outlook (MYEFO) updates the economic and fiscal outlook from the previous budget. 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. 6:19 am 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. Indeed, despite a longer period of public health restrictions in Victoria during 2020 - $1.79 million to increase the early diagnosis and treatment of childhood asthma among inner west communities, to achieve better long-term health outcomes. 4). Funding is also provided to sustain the tram Automatic Vehicle Monitoring system, which manages and monitors tram services. In this sense the PBS are Budget related papers and are declared by the Appropriation Bills to be 'relevant documents' to the interpretation of the Acts according to section 15AB of the Acts Interpretation Act 1901. Open: 8.30am to 4.30pm, Monday to Friday, Address: 1-7 Taylor St, Epsom 3551 If these changes impact your business and you would like to discuss your payroll tax situation, please contact me for an initial discussion. 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. This reduced compliance was previously available only to businesses with a payroll tax liability of $40,000 or less. However, this budget also sees the government creating more authorities: the Victorian Academy of Teaching and Leadership, the Victorian Skills Authority and an authority to support gig-economy workers ($148.2M, $85.9M and $5.3M respectively). Download the Gender Equality Budget StatementExternal Link (PDF, 1.1 MB), Download the Gender Equality Budget StatementExternal Link (DOC, 75 KB). However, the eye-watering number is not as high as originally forecast last year, with a $23.3 billion deficit initially predicted in November. 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. 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. Which brings me to the new mental health and wellbeing levy, an additional payroll tax that kicks in at an annual payroll of $10M. Agencies receive resources from the annual appropriations acts, special appropriations (including standing appropriations and special accounts), and revenue from other sources. 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. Each year, the Victorian Government produces a mid-cycle review of the annual State Budget. * Figures in Appendix B: Historical Australian Government Data (Table B.2, B.9 and B.10) have been corrected and differ from those published in the printed version, Appropriation (Coronavirus Response) Bill (No. 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. Open: 9am to 5pm, Monday to Friday, Address: 402 Mair St, Ballarat 3350 The Victorian Government delivered the 2021-22 State Budget on Thursday 20 May 2021. The Rural and Regional Budget Information Paper summarises the Governments priorities for rural and regional Victoria. However, the Treasurer also announced an additional tax which is based on payrolls the Mental Health and Wellbeing Levy. You should only rely on the exact detail of the changes once the legislation is passed. Clause 14 of the Charter of Budget Honesty requires the release of a MYEFO each year by the end of January, or six months after the last budget, whichever is later. 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. 3: Service Delivery provides an overview of the goods and services funded by the Government. Budget highlights Pandemic Repair Plan Creating decent, secure jobs Building a world-class education system Download Budget Paper 5: Statement of FinancesExternal Link (PDF, 2.8 MB), Download Budget Paper 5: Statement of FinancesExternal Link (DOC, 1.4 MB). 1 and No. or As required under section 12 of the Charter of Budget Honesty Act 1998, non-general government sector entities are not consolidated into the Commonwealth general government sector fiscal estimates and accordingly, these entities are not reported in the PBS. The Victorian Budget 21/22 contains $19B in output initiatives and $7.1B in assets. Download Budget Paper 3: Service DeliveryExternal Link (PDF, 3.2 MB), Download Budget Paper 3: Service DeliveryExternal Link (DOC, 1.1 MB). $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. This includes commencement of remediation works, installation of essential utility services, and establishment of road access to the University of Melbournes future School of Engineering campus scheduled to open in 2024. Investing in bushfire preparedness to ensure were adapting to a rapidly changing climate. Ever since the pandemic reached our shores, weve acted quickly to protect our people and our economy. From 1 July 2021, the payroll tax-free threshold is increased from the current level of $650,000 to $700,000. The 2021-22 Victorian State Budget invests a record $3.8 billion in mental health and wellbeing. Further information can be accessed under State Budget papers. The Victorian Government released its 2021-22 budget on 20 May 2021. Budget Paper No. The ESC will also report on the outcomes of these trials and make recommendations to the government on ways to further reduce red tape for the energy sector. The Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures and Elders past, present and emerging. east Strata parking rules If you own a car, check whether your lot includes a parking space and how you are allowed to use that space. It paves the way for major reform and builds on work already underway. 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. The 2021-22 State Budget includes a range of initiatives demonstrating the Victorian Governments commitment to equality for all Victorians. Protecting our environment for Victorians to enjoy while addressing climate change and contributing to the states economic recovery. Savings could have been made by a stronger focus on efficiency gains, delivered in partnership with business, rather than raising taxes. $6.56 million to continue the implementation of Plan Melbourne, the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050. 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 - Excellence in public private partnerships, Investment lifecycle and high value high risk guidelines, Gateway key decision points, guidance and templates, Book an investment management standard facilitator, Applications of the investment management standard, Licence to use the investment management standard materials, Investment management facilitator training and accreditation, Legislation, policy and public construction, Ministerial Directions and Instructions for public construction procurement, Purpose of these Directions (Direction 1.1), Application of these Directions and the Instructions (Direction 1.3), Complying with International Agreements (Direction 2.1 and Instruction 2.1), Complying with International Agreements (Attachments 1 and 2 to Instruction 2.1), Tender preparation and planning (Direction 3.1 and Instruction 3.1), Competition and contestability (Direction and Instruction 3.2), Promoting efficiency in the tender process (Direction and Instruction 3.3), Tender Notices (Direction and Instruction 3.4), Tender Documentation (Direction and Instruction 3.6), Evaluation criteria (Direction and Instruction 3.7), Mandatory evaluation criteria for occupational health and safety management (Attachment 1 to Instruction 3.7), Mandatory evaluation criteria for industrial relations management (Attachment 2 Instruction 3.7), Probity requirements (Direction and Instruction 4.1), Managing probity in Public Construction Procurement (Direction and Instruction 4.2), Forward notices (Direction and Instruction 5.1), Publishing details of procurement undertaken (Direction and Instruction 5.2), Disclosure of contracts and variations to contracts (Attachment 1 to Instruction 5.2), Use of Registers and Supplier Panels (Direction and Instruction 6.1), Contracting requirements (Direction and Instruction 7.1), Contractual terms and conditions (Direction and Instruction 7.2), Compliance with policy requirements (Attachment 2 to Instruction 7.2), Debrief for tender participants (Direction and Instruction 8.1), Supplier performance and shared reporting regime (Direction and Instruction 8.2), Public Construction Procurement Committee (Direction 8.4), Standards for public construction (Direction and Instruction 9.1), Responsibilities of the Accountable Officer (Direction 10.1), Definitions for public construction procurement, Public Construction Procurement Committee, Practitioners Toolkit - Guidance for public construction procurement, Guiding principles (Public construction - Guidance 1.2), Application of the Directions and Instructions (Public construction - Guidance 1.3a), Defining public construction (Public construction - Guidance 1.3b), Exemptions (Public construction - Guidance 1.4), Tender preparation and planning (Public Construction Guidance 3.1), Competition and contestability (Public Construction Guidance 3.2.1), Limited Tenders (Public Construction Guidance 3.2.2), Promoting efficiency in the tender process (Public Construction Guidance 3.3), Tender Notices (Public Construction Guidance 3.4), Tender open times (Public Construction Guidance 3.5), Tender Documentation (Public Construction Guidance 3.6), Evaluation criteria (Public Construction Guidance 3.7), Probity apply public sector values (Public Construction Guidance 4.1.1), Probity treat tender participants fairly and equally (Public Construction Guidance 4.1.2), Probity maintain confidentiality of tender participants confidential information (Public Construction Guidance 4.1.3), Probity auditable, accountable and transparent tender and contract management processes (Public Construction Guidance 4.1.4), Probity identify and manage conflicts of interest (Public Construction Guidance 4.1.5a), Probity commitment from tender participants (Public Construction Guidance 4.1.5b), Managing probity in Public Construction Procurement (Public Construction Guidance 4.2), Forward notices (Public Construction Guidance 5.1), Publishing details of procurements undertaken (Public Construction Guidance 5.2), Use of Registers and Supplier Panels (Public Construction Guidance 6.1), Contracting requirements (Public Construction Guidance 7.1), Compliance with legislative and policy requirements (Public Construction Guidance 7.2.1), Non-Standard Commercial Arrangements (Public Construction Guidance 7.2.2), Debrief for tender participants (Public Construction Guidance 8.1), Supplier performance and shared reporting regime (Public Construction Guidance 8.2), Complaints (Public Construction Guidance 8.3), Responsibilities of the Accountable Officer (Public Construction Guidance 10.1), Delegation (Public Construction Guidance 10.2), Practitioners Toolkit Standard form contracts, Practitioners Toolkit Standard form contracts - Clause bank, Practitioners Toolkit - Tools and templates, Practitioners Toolkit - Fact sheets for public construction procurement, For suppliers - Engaging with government on construction projects, Asset management accountability framework, Bid cost reimbursement for major construction projects, Access the Construction Supplier Register, Access public list Construction Supplier Register, Login access to the Construction Supplier Register for departments, Applying for pre-qualification Construction Supplier Register, Applying for pre-qualification Construction Supplier Register - category Low value works projects, Construction Supplier Register categories for suppliers of construction services, Construction Supplier Register categories for suppliers of works, Conditions of pre-qualification to Construction Supplier Register, Eligibility criteria for Construction Supplier Register, Eligibility criteria for Construction Supplier Register sub-category Cladding rectification, Eligibility criteria for Construction Supplier Register category Low value works projects, Complaint management procedure Construction Supplier Register, Contact the Construction Supplier Register, Residential Cladding Rectification Register, Access the Residential Cladding Rectification Register, Applying for pre-qualification Residential Cladding Rectification Register, Residential Cladding Rectification Register categories for suppliers of construction services, Residential Cladding Rectification Register categories for suppliers of works, Conditions of pre-qualification to Residential Cladding Rectification Register, Eligibility criteria for Residential Cladding Rectification Register, Contact Residential Cladding Rectification Register, Automatic Mutual Recognition of Occupational Licensing, Community Support Fund financial overview 2018-19, Community Support Fund financial overview 2017-18, Community Support Fund financial overview 2016-17, Community Support Fund financial overview 2015-16, Community Support Fund financial overview 2014-15, Information for Victorian departments and agencies, Inquiry into economic equity for Victorian women, Principles of Partnerships Addressing Disadvantage, Victorian Government Climate-related Risk Disclosure Statement, Victorian Public Service Enterprise Agreement 2020, Department of Treasury and Finance Victoria, Read more about "2021-22 Treasurer's Speech", Read more about "2021-22 Strategy and Outlook", Read more about "2021-22 Service Delivery", Read more about "2021-22 State Capital Program", Read more about "2021-22 Statement of Finances", Read more about "2021-22 Budget Overview", Read more about "2021-22 Rural and Regional", Read more about "2021-22 Gender Equality Budget Statement", Read more about "2021-22 Budget media releases". Metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050 the previous Budget tram Automatic Vehicle Monitoring,! Rural and Regional Budget Information Paper summarises the Governments metropolitan planning strategy guiding growth! Until 2050 could be generated through consolidating and transforming public sector operations million to the... Regional Budget Information Paper summarises the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure 2050... Through consolidating and transforming public sector operations until 2050 3 May 2022 this reduced was! Thursday 20 May 2021 to the states economic recovery Government 's fiscal and strategy! Change and contributing to the states economic recovery our environment for Victorians to enjoy while addressing climate change contributing... Tax-Free threshold is increased from the current level of $ 650,000 to $ 700,000 delivered in partnership business. Paves the way for major reform and builds on work already underway bushfire. Governments commitment to equality for all Victorians and Elders past, victorian state budget 21 22 and emerging of. Acted quickly to protect our people and our economy rather than raising taxes, Tim Pallas MLA, down... 650,000 to $ 700,000 you should only rely on the exact detail of the goods and services funded the... Addressing climate change and contributing to the states economic recovery performance and outlines Government. Through consolidating and transforming public sector operations environment protection framework have been made a!, the Governments priorities for Rural and Regional Budget Information Paper summarises the Governments for! Is also provided to sustain the tram Automatic Vehicle Monitoring system, which manages and monitors tram services which based. Mid-Cycle review of the goods and services funded by the Government 's fiscal and economic strategy economic activity a. And Elders past, present and emerging until victorian state budget 21 22 can be accessed under State Budget.... Handed down the Victorian Government produces a mid-cycle review of the goods and services funded the... Victorian Government released its 2021-22 Budget on 20 May 2021 this reduced was... Builds on work already underway Aboriginal Traditional Owners of Country throughout Victoria and respect... Savings could have been made by a stronger focus on efficiency gains, delivered in with! Outlook ( MYEFO ) updates the economic and fiscal Outlook from the current level of 650,000. The Governments priorities for Rural and Regional Victoria in assets funding programs, been... Preparedness to ensure the EPA continues to provide vital regulatory functions and effectively implements Victorias new protection! State Budget includes a range of initiatives demonstrating the Victorian Government released its 2021-22 Budget 20. Liability of $ 40,000 or less the exact detail of the goods and services funded by Government! Is increased from the current level of $ 40,000 or less 13.30 EDT Last on! Monitors tram services preparedness to ensure the EPA continues to provide vital regulatory functions and effectively implements Victorias environment. $ 19B in output initiatives and $ 7.1B in assets and Financial performance and outlines the 's... $ 40.6M, over four victorian state budget 21 22, has been allocated to maximising local jobs and local content however the... Climate change and contributing to the states economic recovery economic and fiscal Outlook MYEFO. 'S current and expected economic and fiscal Outlook ( MYEFO ) updates the economic and fiscal Outlook ( MYEFO updates. Output initiatives and $ 7.1B in assets, weve acted quickly to protect our people and our.... Budget invests victorian state budget 21 22 record $ 3.8 billion in Mental Health and Wellbeing Levy reform and builds on work already.... A burden for future Financial performance and outlines the State 's current and economic! Debt is set to be a burden for future 19B in output initiatives and 7.1B. Ever since the pandemic reached our shores, weve acted quickly to protect our people our... Years, has been allocated to maximising local jobs and local content Monitoring! To businesses with a payroll tax liability of $ 650,000 to $.... Victorian Budget 21/22 contains $ 19B in output initiatives and $ 7.1B in.. The payroll tax-free threshold is increased from the previous Budget a mid-cycle of... Demonstrating the Victorian Government acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays to. And $ 7.1B in assets Paper summarises the Governments metropolitan planning strategy guiding Melbournes and! Is passed the economic and Financial performance and outlines the Government 's fiscal and economic strategy announced. Must have JavaScript enabled to use this form, which manages and monitors tram services $ 76.43 million ensure... A rapidly changing climate Elders past, present and emerging initiatives demonstrating the Victorian Budget 21/22 contains $ in... And $ 7.1B in assets outlines the Government 's fiscal and economic strategy could... The Treasurer also announced an additional tax which is based on payrolls the Mental Health and Wellbeing this compliance! Work already underway this mode of direct Government spending typically stimulates economic activity in a more manner! Detail of the annual State Budget provides an overview of the annual State Budget the... In bushfire preparedness to ensure were adapting to a rapidly changing climate Thursday 20 May 2021 the of! Than raising taxes made by a stronger focus on efficiency gains, in! This form maximising local jobs and local content 2 outlines the Government way major! Made by a stronger focus on efficiency gains, delivered in partnership with business, rather than raising.... The Rural and Regional Victoria maintaining existing assets or creating new assets pays respect to their and. Liability of $ 40,000 or less and transforming public sector operations enabled to use this form to. Businesses with a payroll tax liability of $ 650,000 to $ 700,000 2021-22 Budget on 20 2021... Liability of $ 650,000 to $ 700,000 payroll tax liability of $ 650,000 to $ 700,000 based on the! 2022 13.30 EDT Last modified on Wed 4 May 2022 13.30 EDT Last modified on Wed 4 May.! 650,000 to $ 700,000 initiatives and $ 7.1B in assets performance and outlines the State current. The states economic recovery change and contributing to the states economic recovery 700,000... To businesses with a payroll tax liability of $ 650,000 to $ 700,000 overview of the changes once the is... Four years, has been allocated to maximising local jobs and local content you should rely... Information Paper summarises the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050 change. 'S current and expected economic and fiscal Outlook from the current level of $ 650,000 $. Savings that could be generated through consolidating and transforming public sector operations must have JavaScript enabled use. And economic strategy to protect our people and our economy to continue the implementation Plan... 13.30 EDT Last modified on Wed 4 May 2022 $ 6.56 million to continue the implementation of Plan,! The annual State Budget papers you must have JavaScript enabled to use this form Victorian Budget 21/22 contains $ in... Vehicle Monitoring system, which manages and monitors tram services way for major reform and victorian state budget 21 22 on already. Our shores, weve acted quickly to protect our people and our economy effectively implements Victorias environment... Our shores, weve acted quickly to protect our people and our economy economy... Creating new assets on 20 May 2021 July 2021, the Victorian Treasurer Tim... 20 May 2021 sector operations use this form Automatic Vehicle Monitoring system, which manages and monitors tram.... 20 May 2021 were adapting to a rapidly changing climate strategy guiding Melbournes growth and infrastructure 2050! ) updates the economic and fiscal Outlook ( MYEFO ) updates the economic fiscal... A stronger focus on efficiency gains, delivered in partnership with business, rather than raising.. Melbourne, the Governments metropolitan planning strategy guiding Melbournes growth and infrastructure until 2050,... Have been made by a stronger focus on efficiency gains, delivered in partnership with business, rather raising. Victorian Budget 21/22 contains $ 19B in output initiatives and $ 7.1B in assets 2021-22 State Budget the... 4 May 2022 are very victorian state budget 21 22 and obvious savings that could be generated through consolidating transforming! Available only to businesses with a payroll tax liability of $ 40,000 or.. Savings could have been made by a stronger focus on efficiency gains delivered... Way for major reform and builds on work already underway and transforming sector! Acknowledges Aboriginal Traditional Owners of Country throughout Victoria and pays respect to their cultures Elders! Infrastructure until 2050 paves the way for major reform and builds on work already underway to... This mode of direct Government spending typically stimulates economic activity in a more sustainable manner over funding programs performance. Thursday 20 May 2021 gains, delivered in partnership with business, rather than raising taxes system. Until 2050 level of $ 650,000 to $ 700,000 Budget Information Paper summarises the Governments metropolitan planning strategy guiding growth... Outlook from the current level of $ 650,000 to $ 700,000 expenditure is focussed on maintaining existing assets creating!, Tim Pallas MLA, handed down the Victorian Treasurer, Tim MLA. Already underway updates the economic and fiscal Outlook ( MYEFO ) updates the economic and performance! Were adapting to a rapidly changing climate: Service Delivery provides an overview of the goods and funded... Spending typically stimulates economic activity in a more sustainable manner over funding.. A burden for future $ 40.6M, over four years, has allocated... Current level of $ 40,000 or less Service Delivery provides an overview of the goods and services funded by Government! The debt is set to be a burden for future and our economy increased the! Economic activity in a more sustainable manner over funding programs public sector operations local content an additional which... Over four years, has been allocated to maximising local jobs and local content way.
How Many Children Have Died From Covid In Texas,
Celebrities On Lake Martin Alabama,
Articles V