Your water company is paying the state government’s COVID debts

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The budget plan to manage pandemic debts by temporarily expanding taxes has led Treasurer Tim Pallas to pull cash from government agencies. Water authorities were targeted the most.

, by temporarily expanding taxes, has led Pallas to pull cash from authorities such as Ports Victoria and agencies such as Development Victoria.– Melbourne Water, Greater Western Water, South East Water and Yarra Valley Water – and redistributes the money through the state budget in an accounting manoeuvre known as “capital repatriation”.

Pallas determines dividends and whether to withdraw more cash after consultation with the corporations’ boards and Water Minister Harriet Shing. O’Donnell has previously argued that if the water authorities had cash to spare for the government, then customers could reasonably ask whether they were paying too much.

Yarra Valley Water paid $72.8 million in capital repatriation, on top of $58.1 million in dividends and $1.7 million in COVID efficiencies. Grampians Wimmera Mallee Water will stump up $400,000, while Southern Rural Water was paying $300,000 and Westernport Water was returning $200,000.

 

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