Page 2080 - Week 06 - Wednesday, 6 June 2018
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emergency services as well as backing up those emergency services workers with the purchase of a range of equipment improvements.
The city is growing and the budget is making significant investments now to ensure that the city gets even better as we grow.
MS CHEYNE: Chief Minister, how will the 2018 budget help more young Canberrans and families on low incomes to own their own homes?
MR BARR: We certainly understand that buying a home is a challenge. It is a massive challenge in cities like Sydney and Melbourne, but it is also a challenge for many Canberrans. That is why we have determined to accelerate our tax reform program by abolishing stamp duty altogether for eligible first homebuyers. First homebuyers with a household income below $160,000 annually will pay no stamp duty at all, whether they are buying an established property or a newly built home.
At the moment some first homebuyers qualify for a stamp duty concession if they are purchasing a newly built property. But people buying established properties, which can sometimes be more affordable and located closer to jobs, did not receive support through that particular scheme. We are widening this to ensure that all eligible buyers get better help through the abolition of stamp duty for all property types and at any purchase price.
This builds on the tax reform program that we have been delivering progressively since 2012. I have indicated that we will continue to cut stamp duty on all properties across the forward estimates. This will assist all homebuyers, but we have particularly prioritised first homebuyers in this year’s budget with the abolition of stamp duty. It is a significant achievement for the territory. We look forward to continuing to cut stamp duty year on year.
MS ORR: How is the ACT government working to ensure all Canberrans share in the gains of our economic growth through the 2018 budget?
MR BARR: This is a significant priority for everyone on this side of the chamber. We want to ensure the gains of our territory’s nation-leading economic growth are shared across the community. That is why we are growing the range of services and supports available to Canberrans who need that help.
This year’s budget delivers more mental health accommodation and services, more front-line support for women and their families escaping violence, more services to meet the needs of Canberrans with disabilities, and more accommodation for people at risk of experiencing homelessness.
We are also determined to keep pushing forward in making Canberra a more inclusive city. On top of this step-up in services, we are also growing annual grants funding for a range of community-led efforts to boost inclusion for people with disability, for older people, for veterans and for LGBTIQ Canberrans.
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