Since the South Australian Government has now passed its Land Tax measures through both Houses of Parliament, it is now imperative that property owners and their advisers are fully prepared so that they are well equipped to navigate the new regime.
The SA Government has made some major concessions on rates and thresholds including:
A number of new concessions have also been introduced in an effort to ease any adverse impacts of aggregation, including:
But, as always…
Property owners and their advisers should now be alive to significant planning issues. For example:
For further information, click here to read our more comprehensive analysis.
With implementation of the reforms just around the corner at 30 June 2020, it is imperative to seek appropriate specialist advice so that action can be taken in advance of this date.
Cowell Clarke is ready to help you navigate the land tax reforms and how they relate to your circumstances.
This publication has been prepared for general guidance on matters of interest only and does not constitute professional legal advice. You should not act upon the information contained in this publication without obtaining specific professional legal advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication and to the extent permitted by law, Cowell Clarke does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting or refraining to act in relation on the information contained in this publication or for any decision based on it.
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