Australia: Land tax measures in 2022-2023 budget (South Australia)
Continues or implements measures introduced in earlier budgets
Land tax measures
The South Australia budget for 2022-2023 includes no new tax-related proposals, but largely continues or implements measures introduced in earlier budgets.
Specifically, with respect to land tax-related measures, land tax thresholds will increase by approximately 11% in 2022-23, and adjustments to land tax rates and thresholds that were legislated in July 2020 will commence from 1 July 2022. This includes an increase in the top land tax rate threshold from $1.35 million to $2 million and a reduction in the 1.25% marginal tax rate to 1% (for site values of $858,001 to $1,249,000).
The introduction of a land tax reduction for eligible build-to-rent projects on South Australian land, when construction commences on or after 1 July 2021, will continue to apply. The relief will apply as a 50% reduction in the land value of relevant parcels of land, when the land is being used as an eligible build-to-rent project.
*$ = Australian dollar
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