Data released by the Victorian Treasurer Tim Pallas suggests over 400 Ballarat businesses are set for big savings thanks to regional payroll tax cuts.
The data says 422 businesses are forecast to share around in $14.8 million in savings this financial year.
The release said even more savings could be on the way for regional businesses, as from July 1, the regional payroll tax rate will be cut by 0.4 percentage points each year until it hits a quarter of the metro rate in 2022-23.
Mr Pallas added this continued decrease will benefit regional businesses.
"We're giving regional businesses the security they need to keep creating jobs, with a fairer tax system that spreads the benefits right across the state," he said.
"In just a few months' time, we'll be cutting the payroll tax rate again to 2.02 per cent - less than half the metropolitan rate."
Member for Wendouree Juliana Addison echoed Mr Pallas' sentiments.
"These tax cuts have delivered huge savings for Ballarat businesses," she said.
"They're already paying less on their payroll tax bill and more savings are on the way. This is about making business a little easier for regional employers, so they can continue supporting local jobs and the local economy."
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