The Northern Territory Budget was presented by the Northern Territory Treasurer, Nicole Manison on Tuesday, 1 May 2018. The Budget included several changes in tax revenue policy, the key of which were:
- A vacant property levy, commencing 1 July 2019, on unoccupied commercial land in the Darwin CBD, at a rate of 1% of unimproved value for buildings which are 50% or more vacant, and 2% for an undeveloped vacant property. This contrasts with Victoria’s vacant residential land tax, which only applies to residential property and is 1% of capital improved value.
- Deferral of community gaming machine tax increases on hotels that were to commence 1 July 2018.