Australia: Land tax measures in 2022-2023 budget (South Australia)

Continues or implements measures introduced in earlier budgets

Land tax measures

The South Australia budget for 2022-2023 includes no new tax-related proposals, but largely continues or implements measures introduced in earlier budgets.

Specifically, with respect to land tax-related measures, land tax thresholds will increase by approximately 11% in 2022-23, and adjustments to land tax rates and thresholds that were legislated in July 2020 will commence from 1 July 2022. This includes an increase in the top land tax rate threshold from $1.35 million to $2 million and a reduction in the 1.25% marginal tax rate to 1% (for site values of $858,001 to $1,249,000).

The introduction of a land tax reduction for eligible build-to-rent projects on South Australian land, when construction commences on or after 1 July 2021, will continue to apply. The relief will apply as a 50% reduction in the land value of relevant parcels of land, when the land is being used as an eligible build-to-rent project.

*$ = Australian dollar



The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.