The State Government has extended the deadline by which land owners are asked to advise Revenue SA of their individual land holdings and ownership interests, in preparation for the introduction of $70 million in land tax cuts next financial year.
South Australians now have until July 31 (instead of June) to confirm and update their land holdings, confirm and update company group information, and notify the government of land held on trust.
Changes to land tax laws passed by the Parliament in 2019 mean land holders now have new reporting obligations in relation to their land holdings.
Key changes to SA land tax:
- The highest tax rate has been reduced from 3.7% to 2.4%.
- For entities other than trusts, the tax-free threshold has increased to $450,000.
- For trusts, the tax-free threshold has dropped to $25,000.
- Amounts and rates in each value bracket have changed.
General Rates 2020/21
| Total Taxable Site Value | Amount of Tax |
| Does not exceeds $450,000 | Nil |
| Exceeds $450,000 but not $723,000 | $0.50 for every $100 or part of $100 above $450,000 |
| Exceeds $723,000 but not $1,052,000 | $1365.00 plus $1.25 for every $100 or part of $100 above $723,000 |
| Exceeds $1,052,000 but not $1,350,000 | $5477.50 plus $2.00 for every $100 or part of $100 above $1,052,000 |
| Exceeds $1,350,000 | $11 437.50 plus $2.40 for every $100 or part of $100 above $1,350,000 |
Trust Rates 2020/21
| Total Taxable Site Value | Amount of Tax |
| Does not exceeds $25,000 | Nil |
| Exceeds $25,000 but not $450,000 | $125 plus $0.50 for every $100 or part of $100 above $25,000 |
| Exceeds $450,000 but not $723,000 | $2250.00 plus $1.00 for every $100 or part of $100 above $450,000 |
| Exceeds $723,000 but not $1,052,000 | $4980.00 plus $1.75 for every $100 or part of $100 above $723,000 |
| Exceeds $1,052,000 but not $1,350,000 | $10 737.50 plus $2.40 for every $100 or part of $100 above $1,052,000 |
| Exceeds $1,350,000 | $17 889.50 plus $2.40 for every $100 or part of $100 above $1,350,000 |
Source Revenue SA adjusted thresholds 2020/21: https://revenuesa.sa.gov.au/taxes-and-duties/land-tax/rates-and-thresholds