Portfolio Media

Quarterly report paints Victoria’s grim economic picture

20 May 2020

Tonight’s release of the latest ANZ Stateometer report shows Victorians are experiencing some of the worst economic effects in the country following the state’s toughest COVID-19 lockdown restrictions. The report is not good news for homeowners or residential mum-and-dad investors with the state’s reliance on international tourism having weakened the housing market more...

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Education Minister confirms Labor’s “big borrow” to be spent on 2018 election commitments

18 May 2020

Labor’s Education Minister, James Merlino, has today at a Parliamentary Committee hearing admitted that Labor will be using some of the $24.5 billion of “pandemic” borrowings to fund school building election commitments from 2018. The admission that Labor’s “big borrow” will be spent funding election commitments from 2018 shows that...

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Latest economic data grim for Victoria

15 May 2020

The latest Victorian budget update paints a grim picture of Victoria's finances. Labor Treasurer Tim Pallas began delivering deficits in September last year but only now has admitted he has given up on chasing surpluses. Victoria's budget was in deficit well before this year's bushfire and coronavirus pandemic with only...

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Liberal Nationals call for land tax relief to support tenants and property owners

28 April 2020

The Liberal Nationals call on the Victorian Government to deliver land tax credits for property owners who provide rent relief to tenants affected by COVID-19 restrictions. Landlords who do the right thing and lower the rent for commercial tenants who have had to shut their doors or residential tenants who...

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JobKeeper payments need to be exempt from payroll tax

05 April 2020

The Federal Government’s $1,500-a-fortnight JobKeeper payments need to be exempt from Victoria’s payroll tax. The Federal Government’s historic JobKeeper payment is designed to keep businesses connected to their workforce and to keep workers afloat during the COVID-19 pandemic. However, under existing Victorian law, these payments will attract payroll tax. In...

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Small business package leaves questions unanswered

21 March 2020

Small businesses have been crying out for a comprehensive relief package to stop them closing their doors and cutting Victorian jobs as a result of the unprecedented pressure of COVID-19. All other states and the Federal Government have already announced small business relief packages, but the Andrews Labor Government’s delays...

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The Federal Liberal Nationals Government gives, and the State Labor Government takes away

17 March 2020

Despite the devastating impact COVID-19 is having on the Victorian economy, Labor Treasurer Tim Pallas refused in Question Time today to rule out increasing taxes and charges in the upcoming State Budget. The Federal Liberal Nationals Government has announced an $18 billion stimulus package with a further package to come....

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Labor hands down disastrous mid-year financial report

13 March 2020

Labor has officially buggered the budget. Today the Andrews Labor Government handed down its disastrous Mid-Year Financial Report with a staggering $1.1 billion deficit. And it’s only going to get worse considering this result was until December 2019, before the devastating bushfires or the coronavirus. It’s the third negative quarter...

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Treasurer refuses to rule out a deficit for Labor’s botched budget

11 March 2020

Labor Treasurer Tim Pallas has today refused to rule out plunging the state’s budget into a deficit.  Speaking at a CEDA conference today, Treasurer Tim Pallas spoke about the impacts coronavirus would have on Victoria’s budget. However, he neglected to mention: The impact of Labor’s $25 billion in waste and...

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Labor’s latest new tax to add more to strain to housing market

06 March 2020

Labor has today announced its 28th new or expanded tax since Daniel Andrews was elected as Premier, this time the tax will be passed on to home and unit buyers. The new construction tax put on companies needing to use a road to construct or renovate properties will be passed...

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