The Queensland Treasury has announced that Government fees and charges are to be indexed in line with wage growth at 3.4 per cent, well below inflation.
The Treasury said growth in standard car registration bills was expected at 2.5%, less than last year and penalties and fines would be indexed to inflation at 7.7%
It said the 2.5 per cent increase in total registration costs for a standard vehicle in 2023-24 would reflect a lower increase in compulsory third party insurance (CTP) premiums and levies.
This compares to a three per cent increase in registration costs last year.
Treasurer, Cameron Dick said that compared with inflation, the decision to a cut in typical car registration would cost 4.8 per cent in real terms.
“It also means the cost to register a car in Queensland will continue to be lower than in NSW, Victoria and Western Australia,” Mr Dick said.
He said penalties would continue to be indexed in line with inflation, reflecting the need to maintain the deterrent value of punishments in real terms.
“Queenslanders are experiencing significant cost-of-living pressures — and that’s why we are lowering the rate of indexation on car registration costs compared to last year, meaning those costs will fall in real terms,” Mr Dick said.
“By setting Government Indexation at 3.4 per cent, in line with wages growth, we are ensuring that unavoidable fees and charges remain affordable.”
