The NSW budget at a glance
Budget position:
* Return to surplus of $101 million in 2009/10
* Surplus of $773 million in 2010/11
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* Surpluses maintained out to 2013/14
* Net debt to increase in 2010/11 to fund capital works
Major initiatives:
* Stamp duty cut to zero for off-the-plan purchases of new homes
* Stamp duty cut by 25 per cent for newly constructed homes
* Stamp duty cut to zero for over 65-year-old "empty nesters" selling family home to downsize to newly built home worth up to $600,000
* Benefits for first home buyers purchasing off-the-plan homes in pre-construction
* Caps to local government infrastructure levies
* Abolition of business insurance protection tax
* Payroll tax cut in two stages to 5.45 per cent by January 1, 2011
Infrastructure spending:
* $16.6 billion for infrastructure building in 2010/11
* $22.3 billion for Metropolitan Transport Plan to 2013/14
* $2 billion plus to upgrade NSW schools, TAFEs
* $166 million for new technology, equipment for police
* $152.1 million for Opera House upgrade
* $75 million for defence industry investment
