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Wed, Nov 15, '17 by Real Estate Investar
The Northern Territory government could introduce a land tax or dump stamp duty and it says all options are on the table as it scrambles to boost revenue.
Labor is canvassing ways to broaden the NT's revenue base, and on Tuesday launched a discussion paper calling for community and business input.
The Territory is the only jurisdiction in Australia without a land tax, and stamp duty could be scrapped or reduced as property prices slump.
They're just two measures being considered, Treasurer Nicole Manison says.
"We are seeking feedback on possible reforms to taxes on payroll, property, gambling, banking, motor vehicles, and insurance - as well mineral and petroleum royalties," she said.
Other proposals include tax incentives for employers designed to boost sustainable local jobs by discouraging interstate fly-in fly-out mining workers.
Ms Manison said the Territory is facing the biggest fiscal challenge in its history following the federal government's "$2 billion cuts" to GST receipts.
The Gunner government has directed the public service to find $150 million in savings over two years as it struggles to attract and retain population numbers.
More than 99 per cent of the Territory's 1.35 million square kilometres is still grazed native pastures, Aboriginal land or conservation areas.
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