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Victorian Families To Save $66 Million Under New Coronavirus Bailout Measures

Victorian families are expected to save $66 million as part of new coronavirus bailout measures announced by the state government today.

Treasurer Tim Pallas said the Victorian government will ease financial pressures for businesses and households by freezing a host of fees and fines at their current levels.

"That will include things like drivers' licences and vehicle registration fees," Pallas said.

"We're also going to freeze the Fire Service property levy at the revenue levels of 1920, so the average household will see no change or a small decrease in their levy rate next year."

The treasurer confirmed with the $500 million tenancy package and the deferral of the landfill levy increases, which have already been announced, that brings the level of total support for businesses and households to more than $3 billion.

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Additionally, Pallas said the Victorian Government will provide a further $491 million in tax relief for businesses on top of the $1.7 billion economic survival package.

He added more than 80,000 Victorian businesses have flagged their willingness to participate in the Commonwealth's JobKeeper program.

"We're doing what we can to complement and act consistent with that program in the way the Government is acting," Pallas said while addressing the media today.

"Of the businesses participating in that program, they will be exempt from payroll tax and the WorkCover levy on JobKeeper payments to their employees who aren't working."

Image: AAP

This will come at a cost of about $425 million to the state, according to the treasurer.

About $225 million of the total $491 million will go toward payroll tax relief and about $200 million of that is foregone premiums under WorkCover, he explained.

"I want to be clear that any person who has an entitlement to a WorkCover protection will still be covered," Pallas said.

"The state will effectively pick up those shortfalls to the extent that, of course, the fund itself can continue to operate in the way where they can make those payments, that will continue to be the case."

Payments to workers who have been stood down, which means those who are receiving $1,500 each fortnight under Job Keeper, will be exempt.

For people working part-time, any amount greater than what they're getting paid for hours worked will also be exempt.

Pallas said, "the last thing we want to do is to add to pressures on people who are currently dealing with the difficulties associated with a pandemic event and all the associated economic difficulties that the community is encountering, the businesses are encountering."

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