Canberra Ratepayers Face New Health Levy as ACT Budget Deficit Reaches $1.1 Billion
Canberra ratepayers will be hit with a new health levy as the ACT government grapples with a growing budget deficit. Treasurer Chris Steel aims to reduce the deficit by $600 million in the next year, with healthcare costs expected to rise. Businesses will also face changes in tax requirements. Residents like Michael Johns feel the impact of rising rates and levies on their daily lives.
Canberra ratepayers will face a new health levy as the ACT government tackles its growing budget deficit. Treasurer Chris Steel revealed that rising healthcare costs will lead to a $1.1 billion deficit for 2024-2025. To address this, the government plans to cut $600 million in the next year, aiming for a $425 million deficit in 2025-2026 and a projected surplus in four years.
Due to healthcare expenses expected to reach $2.9 billion next year, ratepayers will be required to pay a $250 health levy. Businesses earning $1.75 million will also pay payroll tax, a change from the previous threshold of $2 million.
Mr. Steel emphasized the need for community and business contributions to support healthcare services. Additionally, general rates will rise by 3.75%, with increases in emergency services and safer families levies.
Residents like Michael Johns, who supports both his family and elderly parents, feel the financial strain. He expressed concerns about the rising cost of living and the impact of increased rates on his budget.
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