Northern Territory Budget 2023: Fiscal overview

Jenny Lee, Mark Latham and Bonnie Baker summarise the NT Budget, which included the abolition of stamp duty on the conveyance of non-land property from 9 May 2023.

While the Northern Territory (NT) is projecting a fiscal balance surplus within the three-year forward estimates period, 2023-24 is expected to deliver a $200 million net operating deficit due to general government running costs, and a fiscal balance deficit of $1.13 billion in the same period. This is largely due to a record $4.07 billion capital works program in 2023-24. In this regard, the NT Budget commits $2.24 billion to transport infrastructure, the majority of which will be spent on...

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Authors: Jenny Lee, Mark Latham

Published Date: 10 May 2023