The Victoria state government’s budget for 2020-2021 includes a new jobs tax credit program providing a payroll tax reduction for every dollar by which the 2020-2021 and 2021-2022 payrolls exceed those of the previous year.
The budget also proposes targeted land tax and transfer duty concessions and other tax relief measures.
Read a November 2020 report [PDF 644 KB] prepared by the KPMG member firm in Australia
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.