• A forecast return to balanced budgets in 2017-18 and 2018-19 with surpluses from 2019-20 onwards
• Budget position improved by $250 million in 2015-16
• Debt consistent with retaining a AAA credit rating
Weekly NewsletterEvery Thursday afternoon, we package up the most-read and trending RiotACT stories of the past seven days and deliver straight to your inbox..
• Residential rates to rise by 4.5 per cent in 2016-17 and 7 per cent per year on average for the following five years
• Unit rates to rise by on average $150 in 2016-17 and a further $115 in 2017-18 as part of a one-off restructure of the way unit rates are calculated
• Commercial rates to rise by 7 per cent, and thereafter around 6 per cent per year
• New annual $30 Safer Families Levy for all ACT property owners to fund major family violence prevention program
• Increase of around $10 to the Victims Services Levy in 2016-17 with a further rise of around $10 the following financial year
• Increase of around $10 to the Fire and Emergency Services Levy
• Increase of $5 for individuals and $10 for families of the Ambulance Levy from January 1, 2017
• Discount for early payment of rates in full reduced from 3 per cent to 2 per cent
• Drivers licence fees to rise by 5 per cent in 2016-17, with the safe driver discount increased from 20 per cent to 25 per cent
• Duty on insurance premiums abolished (previously 10 per cent of all general insurance premiums and 5 per cent of life insurance premiums).
• Payroll tax threshold increased from $1.85 million to $2 million
• Conveyancing duty rates cut further
The Government made several announcements about major funding commitments in health ($1.6 billion), education ($1.16 billion), sporting facilities ($40 million), tourism ($7.3 million), roads ($100 million+), transport ($70 million), policing ($3.1 million towards improved security measures) and municipal services (including the green bins pilot) in the lead-up to the Budget.
It has also made commitments today for Aboriginal and Torres Strait Islander people ($2.3 million), disability services ($120 million), in emergency services ($9.3 million in new funding), for road safety ($7.1 million), in correctional services ($13 million) and for the environment ($18 million).