Project

State Tax Reform

Project name

State Tax Reform

Industry sector

Responsive governments

Objectives

Description

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.

Contact

Department of Treasury and Finance
Mr Greg Raymond
Director Revenue and Intergovernmental Relations
Phone 8226 9537
Web Tax Reform