This bill being passed means that... Companies whose Aussie staff wages add up to more than $10 million a year now have to pay a 0.5% Mental Health and Wellbeing Levy on payroll; For companies whose Aussie staff wages add up to more than 100 million, that goes up to a 1% MWH Levy.

This bill being passed means that... The payroll tax-free threshold is going up to $700,000 a year early, so companies do not have to pay payroll tax if their wages are less than that (was going to be $675,000).

This bill being passed means that... Payroll tax is going DOWN for regional businesses - regional payroll tax rate is going down from ~2.4% to ~1.2%

This bill being passed means that... A 50 per cent concession will be provided for purchasers of eligible new residential properties (needs to be in the City of Melbourne council area with sale value under $1 million), increased to a full exemption for purchasers of eligible properties that have been unsold for 12 months or more since completion.

This bill being passed means that... (from 2R speech) The Bill will also temporarily increase the eligibility threshold for the off?the?plan concession for land transfer duty to $1 million for all home buyers. For contracts entered into from 1 July 2021 to 30 June 2023, the threshold for the off-the-plan concession for land transfer duty will increase from $550,000 to $1 million for home buyers; and increase from $750,000 to $1 million for first home buyers.

This bill being passed means that... (from 2R speech) From 1 July 2021, property transactions with a dutiable value above $2 million will be subject to a premium duty rate of $110,000 plus 6.5 per cent of the dutiable value in excess of $2 million. Based on current data, this premium rate is expected to affect less than four per cent of all property transactions.\r\n

This bill being passed means that... (from 2R speech) developers will get an additional year to sell newly constructed dwellings before the vacant residential land tax may apply,... From 1 January 2022, the vacant residential land tax exemption for new developments will be extended to be up to two land tax years