Victorian Budget feasts on stamp duty windfall

Sunday 13 March 2016

The Victorian Government on Friday released its 2015-16 Mid-Year Financial Report, which recorded a $1.5 billion surplus in the six months to December 2015, running well ahead of November’s 2015-16 Budget Update, which forecast a full-year surplus of $1.7 billion.

The surplus was boosted by the handing back of a $540 million compensation payment from Tatts Group, along with a $509 million increase in stamp duty revenues, courtesy of the property bubble (see below tables).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.