The negatives outweigh the positive initiatives for business in the Victorian State Budget 2023-24 released today, with medium and large businesses and multiple property owners facing increased costs to repay State debt.

Today’s State Budget of new and increased taxes and levies will hit medium to large businesses and property owners. It will directly impact jobs and investment in Victoria.

The Victorian Chamber of Commerce and Industry welcomes the Victorian Government announcement to replace stamp duty for commercial and industrial properties with an annual property tax.

WorkCover changes announced today will see premiums increase by more than 40 per cent, changes to mental health eligibility and the creation of a new pilot program for impacted workers.

Today’s State Government announcement of a 42 per cent increase in WorkCover premiums to 1.8 per cent makes our scheme the most expensive in the country and is yet another increase to the cost of doing business in Victoria.

The Victorian Chamber’s third Business Voice trend survey has revealed a drop in confidence concerning business’ revenue growth with almost one-third of businesses responding that they are less likely to recruit new staff, compared to one in four just six months ago.

Victorian businesses are bracing themselves for lower revenue growth and slowing staff recruitment in the coming months as the cost-of-living crisis hits, the latest Victorian Chamber of Commerce and Industry survey reveals.

The Federal Court of Australia found the HR manager and general manager of a restaurant chain purposely underpaid employees for almost a year and deliberately tampered with records in their payroll system outlining employee hours worked.

Solar power is now more accessible for small and medium businesses through measures announced in the 2023/24 Federal Budget combined with Victorian incentives.

In February this year the Victorian Chamber flagged the termination of ‘zombie agreements’ under the Australian Government’s Secure Jobs, Better Pay Amendment Act 2022.

The Victorian Chamber welcomes the Federal Government’s 2023-2024 ‘Stronger foundations for a better future’ Budget which delivers a $4.2 billion surplus. The fundamentals of defence, skills and the transition to a net zero economy are clear winners in an otherwise modest budget with few surprises.

Improved careers services and advice is increasingly important in a labour market characterised by skills and labour shortages, skills mismatches and perceptions of vocational education and training (VET).

From 1 May 2023, updated rules on taking annual leave during a shutdown apply for 78 Modern Awards.

The Fair Work Commission (FWC) has rejected an employee’s application that he should be able to file an unfair dismissal claim as he was earning under the high-income threshold and was covered by a modern award, ruling that his private use of the company’s motor vehicle contributed to his earnings.

Increased cost of living is the number one issue facing many Australians today. It’s also likely affecting the emotional and financial wellbeing of your employees.

The Executive Council has called a special general meeting of members to consider and, if thought fit, approve the Victorian Chamber of Commerce and Industry's proposed change in entity type from a body corporate established under the Fair Work (Registered Organisations) Act 2009 (Cth) to a company limited by guarantee registered under the Corporations Act 2001 (Cth). The special general meeting will be held on 19 May 2023 at 9:30am at Level 3, 150 Collins Street, Melbourne VIC 3000 and online, using online platform Zoom.