On 20 May 2025, the Victorian budget for the 2025/26 financial year was handed down by the Victorian Treasurer, Jaclyn Symes. The budget proposes a surplus of $600 million and was described by the Treasurer as a “responsible budget”.

From a tax reform perspective, no new taxes were announced in the State Budget.

The Treasurer has acknowledged that many Victorian families “are doing it tough”. 

In recognition, the Treasurer has stated that they will be providing cost relief measures, including:

Contact us

If you have any further questions relating to how the Victorian State Budget might affect you, contact your usual BG Private advisor or contact our Tax Advisory Partner Tim Olynyk on +61 3 9810 0700 or