News
Increasing revenue from property taxes
Increased property taxes have resulted in the Victorian Government receiving nearly AUS$743 million more than was predicted for the last financial year.
The Financial Report for the State of Victoria, tabled in parliament last month, noted that the AUS$1.36 billion surplus was more than double the predicted amount of AUS$622 million.
The extra cash has came in the main from stamp duty, a growth in the GST pool, returns on Work Cover and Transport Accident Commission investments and taxes, and a higher than expected payroll and land tax growth, the report says.
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21 January 2008