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NSW To Reduce Stamp Duty

NSW To Reduce Stamp Duty – Treasurer Eric Roozendaal will deliver a surplus for 2010-11 believed to be in excess of $750 million.

The Government, after initially predicting a deficit of close to $1 billion for 2009-10, will announce a surplus of $101 million for that year.

Estimates in the Budget will put predicted state economic growth at 2.5 per cent, up from an estimate last year of 0.5 per cent, signalling an $11.5 billion turnaround in the economy after the global financial crisis.

Mr Roozendaal is delivering what critics have called a “conservative budget”, choosing not to spend “stamp duty [receipts] that have gone through the roof”.

But Mr Roozendaal will give something back to homebuyers with a stamp duty cut. He will also announce $300 million in payroll tax cuts.

Tags: 1 Billion, Conservative Budget, Economic Growth, economy, Eric, Estimates, Global Financial Crisis, Payroll Tax, Receipts, Stamp Duty, Tax Cuts, Turnaround
Posted in Money