State Tax Reform
- Make South Australia the most attractive state for business
- Create the lowest taxing state in the nation for business
- Abolish stamp duty on commercial property transfers
- Achieve tax reductions of $670 million over the next four years
- Stimulate business activity.
State Tax Reform aims to make South Australia the most attractive state for business. The reform will provide $670 million in tax reductions over four years to 2018-19, including ongoing reductions from the abolition of stamp duty on non-real property and non‑residential real property transfers of over $235 million each year from 2018-19.
Announced as part of the 2015-16 State Budget the South Australian government is reforming taxes to help businesses invest, grow and create jobs, benefitting commercial and industrial businesses in northern Adelaide.
The first one-third reduction in stamp duty on non-residential, non-primary production, real property transfers has been brought forward for immediate implementation (December 2015).
South Australia is now the lowest taxing state for commercial property transfers.
A further third reduction in stamp duty rates will occur on 1 July 2017, before full abolition on 1 July 2018. Following the abolition South Australia will be the only jurisdiction not to charge stamp duty on non-residential real property transfers.
The small business payroll tax rebate has also been extended for an additional year to 2015-16 and will provide relief of up to $9,800 for eligible businesses.
Department of Treasury and Finance
Mr Greg Raymond
Director Revenue and Intergovernmental Relations
Phone 8226 9537