Budget Paper No.2 Fiscal and Economic Outlook 2008-2009
Tabled paper 1293
Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT
Tabled By Delia Lawrie
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
69 Stamp duty is levied on the transfer and initial registration of motor vehicles. Generally, the duty is levied on the purchase price of the vehicle. Revenue from this source in 2008-09 is forecast to be $22 million. The Territorys rate of duty is similar to the national average for a new vehicle valued at $35 000 (Chart 6.10). Unlike most jurisdictions, the Territory does not impose a higher rate of duty on luxury cars. Source: State legislation and information available as at 30 April 2008 Motor Vehicle Registration Vehicle registration fees and taxes vary significantly across the jurisdictions. At $504.70, the Territory has the second lowest cost in Australia to register a medium-sized passenger vehicle (see Chart 6.11). The Territorys registration fee, excluding third party insurance of $70, is the lowest in Australia and well below the national average of $163.79. Higher compulsory third party premiums in the Northern Territory ($387.55) reflect inherently higher costs due to the small size of the Territory and relatively high road accident casualties. Note: Prices are for capital cities, however, prices charged in Darwin apply across the Territory. Based on a 4 cylinder Toyota Camry Altise Sedan. Source: Northern Territory Treasury Motor Vehicle Registration Duty Chart 6.10: Motor Vehicle Registration Duty on a New Vehicle Valued at $35 000 0 400 800 1 200 1 600 2 000 NSW Vic Qld WA SA Tas ACT NT $ State average $1 181 0 100 200 300 400 500 600 700 800 900 NSW Vic Old WA SA Tas ACT NT Registration Fees Third Party Insurance Administration Fee $Chart 6.11: Annual Registration Fees and Charges for a MediumSized Passenger Vehicle (March 2008)