TAX ALERT
Victorian State Budget 2021-22
The Victorian Treasurer, Tim Pallas MLA, handed down the Victorian State Budget on Thursday 20 May 2021.
 
After a delayed 2020-21 budget on account of COVID-19, this budget was back in its traditional May timeslot.
Key Points
  • In contrast to the 2020-21 Budget, the focus on this budget is higher taxes.
  • Notwithstanding, some revenue measures are aimed at making things easier for small business.
  • From a spending perspective, the key focus of this Budget is Mental Health.
 
Victorian State Budget 2021-22
Property & Construction announcements
 
The Victorian Government released its 2021-22 budget on 20 May 2021.
 
Taxation revenue is forecast to increase by 13.2% in 2021-22, partly due to economic conditions recovering from the COVID-19 pandemic slump and the introduction of new taxes. This summary focuses on the particular announcements affecting the Property & Construction Sector.
For further information
If you have any questions or require further information surrounding the Victorian State Budget 2021-22, contact your local RSM tax adviser in Melbourne or Ballarat today.
 
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