Something positive - SA Land tax relief package
May 17th 2010, 10:47 am
#1
Pie Eater
Thread Starter
Joined: Sep 2007
Location: South Australia
Posts: 770
Something positive - SA Land tax relief package
A LAND tax relief package which will increase the tax-free threshold to $300,000 from July 1 will be introduced into the South Australian State Parliament today by Treasurer Kevin Foley.
May 17th 2010, 12:39 pm
#2
Lost in BE Cyberspace
Joined: Dec 2008
Posts: 6,039
Re: Something positive - SA Land tax relief package
oops, changed it into something negative...
May 17th 2010, 12:56 pm
#3
Guest
Posts: n/a
Re: Something positive - SA Land tax relief package
But no one pays land tax do they ? Except for property investors.
No Land Tax on personal place of residence. At least not in NSW and QLD.
and SA
No Land Tax on personal place of residence. At least not in NSW and QLD.
and SA
The Act provides that an exemption from land tax may be granted where the Commissioner is satisfied that land owned and occupied by a natural person constitutes the owner’s principal place of residence.
May 17th 2010, 1:03 pm
#4
Pie Eater
Thread Starter
Joined: Sep 2007
Location: South Australia
Posts: 770
Re: Something positive - SA Land tax relief package
Under the proposed changes, the land tax-free threshold will be lifted from $110,000 to $300,000 which will ensure an estimated 74,500 of the 121,000 landowners who pay land tax will no longer be liable for it in the 2010-11 financial year.
May 17th 2010, 1:22 pm
#5
Guest
Posts: n/a
Re: Something positive - SA Land tax relief package
Therefore 46,500 investors in SA have land holdings worth over $300,000 in total.
Out of a population of 1.6 million.
Current land tax on a $200,000 investment land value = $450. This will become $0
Current land tax on a $350,000 investment land value = $720. This will become $250
Not sure how Land values compare in SA, but a $200k land value around here is about right for many $500-$600k houses.
May 18th 2010, 4:45 am
#6
BE Forum Addict
Joined: Mar 2009
Posts: 1,412
Re: Something positive - SA Land tax relief package
That's a subsidy for property developers the same as the FHB boost was. Nothing positive there unless you're a developer or landbanker.
