Regional Victoria Is Ready When You Are30/06/2017
The Victorian Government has launched a new campaign to attract people to regional Victoria, on the eve of payroll tax cuts for businesses and significant new support for first home buyers in regional Victoria.
Treasurer Tim Pallas joined Minister for Regional Development Jaala Pulford in Ballarat today to launch the “Ready when you are” campaign, to attract people to regional Victoria.
The campaign features people from around the state who relocated to regional Victoria, sharing their stories about what encouraged them to make the move. Research shows the key attractors to relocation are affordable housing, education, health and lifestyle – with key drivers being family, social connections and employment.
The Government is also making it easier for people to buy their first home by doubling the First Home Owner Grant to $20,000 in regional Victoria. The measure will help around 6,000 first home buyers and boost jobs and development in regional Victoria.
Stamp duty for first home buyers will also be abolished all homes valued up to $600,000, and will be reduced on homes up to $750,000 – saving first home buyers across the State around $850 million over four years. Given the median house price in regional Victoria is under $600,000, this will make a real difference for young Victorians.
These measures will come into force tomorrow, along with a 25 per cent cut to payroll tax. It is expected up to 4000 regional businesses will be eligible for the exemption, with more than 1000 of those enjoying the lowest payroll tax rate in the country.
This is a shot in the arm for businesses looking to expand their operations, and another boost for regional jobs, which have already grown by more than 55,000 since late 2014.
The farming community has not missed out either, with the removal of insurance duty on agricultural products, making it cheaper for farmers to insure against crop, livestock and equipment damage.
For more information about moving to Victoria’s regions, visit regionalliving.vic.gov.au