We explored the genetic and environmental influence on both stability and growth in literacy and numeracy in 1927 Australian twin pairs from Grade 3 to Grade 9. Participants were tested on reading, spelling, grammar and punctuation, writing, and numeracy. In each domain, performance across time was highly correlated and this stability in performance was primary due to genes. Key findings on growth showed that reading followed a compensatory growth pattern that was largely due to genetic effects, while variation in growth in the other literacy domains was predominantly due to environmental influences. Genes and the shared environment influenced growth in numeracy for girls, while for boys it was influenced by the shared and unique environment. These results suggest that individual differences in growth of reading are primarily due to a genetically influenced developmental delay in the acquisition of necessary skills, while environmental influences, perhaps including different schools or teachers, are more important for the other domains.