Tax experts say Victoria is now the country’s highest taxing state for business and BeyondBlue founder Jeff Kennett warns a $2.9 billion mental health levy on business will drive out jobs and investment.

Ali Suleyman from Pitcher Partners confirmed the levy on payroll tax put Victoria “out of step” with other states and, when combined with a significant increase for both stamp duty, land tax and a new property windfall gain tax, Victoria appeared to have taken the mantle as the highest taxing state for business.