2015/16 Australian Capital Territory Budget

The Australian Capital Territory Government 2015/16 Budget was handed down on 2 June 2015.

The Budget Papers are available here.

Details of the new revenue measures are provided below

Duty on Insurance

  • From 1 July 2015, duty rates on general insurance will reduce from four percent to two percent. Duty on life insurance will reduce from two percent to one per cent.
  • The 2015/16 financial year will be the last year that duty will apply to insurance policies with rates being fully abolished effective 1 July 2016.

Conveyance (Transfer) Duty

  • From 1 July 2015, the flat duty rate on for all properties (residential and commercial) with a value greater than $1.455 million will reduce from 5.25 percent to 5.17%.
  • The conveyance duty rates for the 2015/16 financial year are as follows:

ACT 2015-16 Transfer Rates

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