Page 1514 - Week 06 - Thursday, 2 July 2020
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(ii) off-the-plan unit titled purchases up to $500 000 to zero; and
(iii) off-the-plan unit titled purchases between $500 000 and $750 000 by $11 400;
(h) with the commencement of the Motor Accident Injuries Scheme on 1 February 2020, average passenger vehicle premiums will be on average $60 less than what they were one year earlier;
(i) Icon Water has announced that water bills for households in the ACT will not increase in this financial year; and
(j) the abolition of insurance duty is saving Canberrans with insurance 10 percent on all their insurance products; and
(2) acknowledges that, during a global pandemic that has caused a health emergency and global economic crisis, the ACT Government must inject more cash into our economy, while protecting the health of Canberrans and not cutting essential service delivery.”.
The amendment notes that the COVID-19 pandemic is having a big impact across the territory economy and on the budgets of many Canberra households, and acknowledges the important work that is being done by the territory government in helping Canberra families, workers and businesses through this challenging time. As the Leader of the Opposition indicated, back in March the government announced that we would provide a $150 rebate on rates bills that would be automatically applied to the first quarter notices of this financial year. What this measure provides is a rates reduction in this financial year for over 110,000 Canberra households in a year when they will need it most. The $150 rebate is automatically applied and, with and inclusive of the rebate, the average rates increase across the entire city is zero per cent.
A range of government fees, charges and levies such as parking, business registration, fire and emergency services, public transport, development application fees and a list that goes to about 100 will not increase in the 2020-21 financial year. There has been a range of fee waivers and rebates provided to support businesses and to keep Canberrans employed.
We also welcome the decision of the Independent Competition and Regulatory Commission in relation to regulating electricity prices in the ACT, which sees an average price decrease of a little over 2½ per cent that came into effect yesterday—this, of course, being principally driven by the lower cost of renewal generation within our city and, indeed, the renewable energy that we have contracted around the national energy market. What this means is a reduction in annual electricity costs of $43 for an average Canberra household and more for larger households.
I also note that, through some very direct and blunt engagement with the petroleum industry, we have seen a significant reduction in retail margins for fuel in the ACT and that, since that very significant intervention from the territory government, Canberra motorists have been paying at or below the national average for fuel.
The government announced on 4 June that we would significantly reduce stamp duty for eventual owner-occupiers on the purchase of new single-residential blocks and
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