South Australian Land Tax Amendments – Are You Prepared?
The South Australian Government has defiantly issued its Land Tax (Miscellaneous) Amendment Bill 2019 (Bill) for consultation manifesting a clear intent on the part of the Government to shut what some members of the Government have labelled “loopholes”, alter the way land tax is aggregated and introduce new bases for taxing certain types of trusts.
Current Status
The South Australian Government has defiantly issued its Land Tax (Miscellaneous) Amendment Bill 2019 (Bill) for consultation manifesting a clear intent on the part of the Government to shut what some members of the Government have labelled “loopholes”, alter the way land tax is aggregated and introduce new bases for taxing certain types of trusts.
The timing of the Bill has been criticised by property, construction, business and investment groups on the basis that it coincides with the implementation of a State wide revaluation which seemingly will result in marked increases to site values culminating in a significant revenue grab in favour of the Government.
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