Victorian residents have surpassed their NSW neighbours as the most taxed Australians and could face further woes in the upcoming “horror” budget as the state’s debt mountain grows.
The Australian Bureau of Statistics data revealed that Victorians were slogged with $7.3 billion in extra taxes over the 2021-2022 financial year, eclipsing New South Wales residents for the first time in a decade.The figure represents a 24.6 per cent increase over 12 months, as the total tax revenue climbed from $29.6 billion to $36.9 billion.
“These figures confirm that Victorians are paying more tax than they ever have before and are getting less for it,” Mr Rowswell said. The ABS data shows that tax revenue rose from $3.2 billion to $4.1 billion in just 12 months and the hot property market pushed stamp duty from $6.6 billion to $10.72 billion.
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