Australia: Tax measures in 2026-2027 budgets (Victoria and Northern Territory)
Extensions of off-the-plan stamp duty concession in Victoria and home buyer grants in the Northern Territory
Both Victoria and the Northern Territory delivered their budgets for 2026-2027 on May 5, 2026, with both budgets including few changes to existing taxation and revenue settings.
Welcomed measures for property developers and investors are the further extension of the off-the-plan stamp duty concession in Victoria for an additional six months (now applying to contracts signed on or after October 21, 2024, and before April 21, 2027), and the further extension until September 30, 2027, of home buyer grants in the Northern Territory.
Both budgets also propose changes to payroll tax, with the Norther Territory proposing a higher payroll tax of 6.5% (up from 5.5%) from July 1, 2026, for employers (or payroll tax groups) with total Australia-wide wages of $100 million* or more per year.
For more information, contact a KPMG tax professional in Australia:
Candice Wong | candicewong@kpmg.com.au
Dorian Beaver | dorianbeaver@kpmg.com.au
Jacqueline Wood | jwood7@kpmg.com.au
Benita Siswojo | bsiswojo@kpmg.com.au
*$ = Australian dollar