The Victorian and ACT Governments have released their budgets for 2008/09 and retailers have been provided with some much needed tax relief. The ACT Government announced a 20% payroll tax threshold increase to $1.5 million, which is designed to provide some assistance to small and medium enterprises. The Victorian Government, meanwhile, announced $1.43 billion worth of cuts to taxes and business costs. Treasurer John Lenders claimed the tax cuts were able to be implemented due to the Government’s... ...Read more »