Territory Stories

Mini budget papers 2012 - 2013



Mini budget papers 2012 - 2013


Northern Territory. Department of Treasury


Northern Territory budget papers; Reports; PublicationNT




Made available via the Publications (Legal Deposit) Act 2004 (NT).




Appropriations and expenditures; Periodicals; Budget; Finance, Public

Publisher name

Northern Territory Government

Place of publication



2012/13 mini budget

File type



Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government



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Citation address


Related items

https://hdl.handle.net/10070/591481; https://hdl.handle.net/10070/591483; https://hdl.handle.net/10070/591484; https://hdl.handle.net/10070/591473; https://hdl.handle.net/10070/591475; https://hdl.handle.net/10070/591477; https://hdl.handle.net/10070/591480

Page content

9 Ministerial Statement the Smart Court and the Alcohol and Other Drugs Tribunal are to be abolished, saving more than $9million over the next four years; special arrangements funded by the previous Government in the Gerry Wood agreement will not proceed further, including the Litchfield swimming pool and later stages of grants for sporting facilities at Freds Pass; a late decision by the former Government to add an additional $500000 per year to existing funding for the Buildskills Program will not proceed; and agencies are rationalising their use of travel, consultancies, vehicle fleets and other discretionary expenditures, instead making better use of video conferencing and other technologies in their day-to-day operations. 7. Housing Madam Speaker, the high cost of housing in the Territory is one of the unforgivable legacies left to this Government to sort out, with Territorians bearing the burden of excessively high rents and purchase prices, and weighing heavily on the cost of living. Unlike the previous Government, we do have a plan. We have already outlined the Real Housing for Growth strategy that will produce 2000 homes for working Territorians over this term of Government, through private sector investment. We have already outlined the two HomeBuild Access products to facilitate home ownership at the lower end of the market by assisting low to middle-income earners with subsidised interest loans and other new home owners with low deposit loans. It is worth noting that, although the Territory has the most generous housing assistance schemes in Australia, they have been poorly targeted. Also as part of the Mini Budget, we will change the approach to first home owner assistance schemes to encourage construction of new housing. We will discontinue the current stamp duty first home owner concession while increasing the first home owner grant. For homes in the Darwin, Palmerston and Darwin rural areas, assistance to eligible first home owners will be $25000 for new homes and $12000 for existing homes. Assistance of $25000 will be offered in regional parts of the Territory for both new and existing homes, recognising the current constrained supply of new housing development compared with the Top End. We will reduce eligibility for the first home owner grant from $750000 to homes valued up to $600000. The stamp duty principal place of residence rebate will be targeted to new homes only, and will be increased to $7000 from the current $3500. These measures will come into effect today.

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