The Victorian Treasurer on Tue 1.5.2012, delivered the 2012-13 Victorian Budget.
The Victorian State Revenue Office (SRO) noted that the Government has announced that it will abolish the duty exemption for grants of Crown land as part of the Budget.
- The exemption for the dedication of a free and perpetual right of way for the use of the public will be retained.
- Further, the SRO noted that land alienated from the Crown by a grant of freehold is not liable to duty under the Duties Act 2000 (Vic) and will not be impacted by the Budget announcement.
In addition, the Treasurer announced that the Government will cut WorkCover premiums by an average of 3% from 1 July 2012. According to the Treasurer, the reduction “will benefit almost 60% of Victorian businesses, of which nearly 59,000 will have their premiums cut by more than 10%.”
The Budget papers will be available on the Victorian Budget website.
Source: Victorian Treasurer’s media release, 1 May 2012
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