A stronger economy growing more jobs

A stronger economy growing more jobs

The 2018 ACT Budget will grow our investment in economic development with more support for emerging and high-growth industries, expanded marketing of Canberra and more major events.

The ACT Government’s efforts to diversify our economy and grow stronger local industries helped create almost 10,000 new jobs in Canberra last year.

There are 2,000 more businesses operating in Canberra today than there were three years ago. Our local companies are doing more international business than ever before, with the ACT's services exports rising by 22 per cent since 2015.

This year’s Budget will back our local firms to keep growing and creating more good jobs so everyone in our community can share the benefits.

Diversifying the economy and supporting local business

More events for Canberra

A fairer tax system

The ACT Government is continuing to deliver our plan for a fairer, more sustainable tax system that meets the needs of our growing community.

The ACT is leading the nation in reducing and abolishing inefficient taxes like insurance tax and stamp duty. These reforms will ensure a stable and equitable revenue base so we can continue to deliver high quality services to our growing city.

We have cut stamp duty rates in every Budget we have delivered since 2012, and we will continue to do so every year across the forward estimates. By 2021-22 the buyer of a $500,000 home will be paying half the amount of stamp duty due when we started this reform – a saving of $10,500.

We are also continuing to reform commercial stamp duty – from 1 July this year there will be no stamp duty due for commercial properties worth $1.5 million or less. This will mean about 70 per cent of commercial property purchases will no longer involve stamp duty, a significant boost for small businesses and investment.

Media contact: Mark Paviour     0466 521 634     mark.paviour@act.gov.au