Great news for regional businesses with Payroll Tax rates cut for regional business in Victoria from 1 July, 2018. The announcement was part of the 2018/19 Budget announced by the Victorian State Government and will result in a reduction in the payroll tax rate from 3.65% to 2.425% alongside an increase in the payroll tax-free threshold from $625,000 to $650,000 from July 1, 2018, a boon for small business in Warrnambool, Colac, Hamilton, Camperdown and the Great South Coast.
