Debt fears over Victoria's $3b business relief plan

There will be more payroll tax relief, with this year’s payments deferred for businesses with payrolls up to $10 million, $20 million for small businesses to power up their e-commerce efforts and grants of up to $20,000 to businesses in alpine resorts.at the hotel quarantine inquiry on September 23.

"It's great as a headline, but when you just defer the problem you create a problem down the track," he said. The Australian Industry Group's Tim Piper also warned Victoria’s policy of deferring payroll tax, instead of waiving it, stored up a debt problem for the future.Loading "Today’s announcement is a signal of confidence in business and will provide hope for many businesses that may have been wondering how they will get through the coming weeks of continued restrictions," he said.

“We're very grateful for JobKeeper, very grateful for JobSeeker and as the Prime Minister indicated just a few weeks ago, ‘We're all Victorians.’ That's what the Prime Minister said and I’m so so grateful for that," Mr Andrews said. Mr Morrison said in a statement later in the day that he commended Victoria's announcement, but he pointed to the already massive sums that had flowed to Victoria from the Commonwealth.

Bit like the problems down the road regarding the federal cash splash of $300b to fight the virus, but that’s okay because the money is siphoned, I mean spent, by a Liberal government

Is there a federal stimulus package yet? Oh, I forgot, it's planned but no one yet to see it just like aged care etc.

It's not within cooee of compensation for the damage done. Better to take it on the chin and treat the virus medically with some guidelines and build a couple of new hospitals in 14 days, like China, ha! The Chairman should be able to do it!!.

Really? This is the spin you’re going to apply? Surely a stimulus package is what is required? Why don’t you go after the Feds and their pathetic attempt which is going to result in a win for multinationals and not much else. Pathetic.

The Age never promotes that line when the federal govt announces interest free loans and deferred repayments etc....just another negative spin from the Age and Noel, who’s bias is always on display

Sole traders still waiting for information - but ‘that’s not for today’ ResignDanielAndrews

Classic parasite politics, destroy everything in site, then borrow a bunch of money on behalf of taxpayers and use it to try win back their support. This is why democracy has to end.

Lol

The bulk of the package is tax deferral. Business gets an extension to pay, but the tax still needs to be paid. It’s not assistance, it’s kicking the can down the road

They are borrowing money at 0.25%. On a 30year bond, GSP & inflation at only 1%, it’s interest free. Not to mention the productivity improvements, & probable future LNP privatisations if invested wisely, you’ll make money on it. But hey, can’t have nuisanced discussions anymore

ALP debt is bad, LNP debt is good.

The Age raising debt fears after the parlous debt and deficit lies of Abbott smells of structural debt master CostMaker Pete Costello at work. What a menial failure at policy

Knock me down with a feather - Ninefax does a 'This is good, but...'.

But who will save Victorians from the train wreck that is the Andrews Government? basalted dictatordan

The amount of “this is good but...” coming outta my once beloved Age is recently is mystifying

Oh ffs, debt fears, you are talking about that now. Thats precovid politics.

3 billion dollars we don’t have. Victoria was in massive debt and budget deficit well before this Covid hysteria. Typical Leftists spending money they don’t have for the now with no thought of the future.

Business scream for a package Dan Andrews delivers and there is still a problem . Dan Andrews can’t win . At least he has the majority of the Victorian public support .

Victorians and all Australians deserve a Royal Commission into the LNP-IPA-Murdoch Alliance continual undermining of health advice, bullying, inciting violence and demolition of our democracy through overt propaganda for political gain. IStandWithDan IStandWithAnastacia BLM

The Libs have called for even more debt relief so at least the debt cant be politicised. All levels of fiscal leadership have called for spending as well so while it may be nerve racking for some its best advice available.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Victorian Government announces $3b coronavirus business support packageThe Victorian Government announces a coronavirus business support package worth about $3 billion, which Premier Daniel Andrews calls the 'biggest package of business support' the state has ever seen. Your choice of image is regrettable, though true to form. Pathetic. Over to you ScottMorrisonMP and JoshFrydenberg Tax relief? To receive tax relief you need a business to operate to generate income to create taxable income. No business operating. No income. No tax generated. No relief. Laughable business support...
Source: abcnews - 🏆 5. / 83 Read more »

Business to crumble as Dan Andrews forces hospitality sector to 'toe the line' | Sky News AustraliaOwner of the iconic Botanical Hotel, Rabih Yanni, says the hospitality sector in Victoria is in dire need of a “management plan that is proportionate to the medical risk”.\n\n“We’re asking for something that is reasonable, something that’s honest, something that will enable us to re-engage with our customers, our guests, our community and more importantly provide work for the people we employ,” he told Sky News.\n\n“It appears as though we are expected to toe the line that no other industry has had to accept and move forward on the proviso of limited and narrowly focused modeling.\n\n“This is by no means profit before people. This is about livelihoods.'\n\nMr Yanni said economic forecasts indicate 40 per cent of businesses in the hospitality industry might not make it through the current lockdowns. \n\n“I would suggest that’s a conservative estimate,” he said \n\nImage: News Corp Australia
Source: SkyNewsAust - 🏆 7. / 78 Read more »