Land Tax Changes

Land Tax Changes

1.5 Standard CPD Units

Presenter:  Bernie Walrut - Murray Chambers

Chair:  John Tucker - DW Fox Tucker 


The Bill to amend the Land Tax Act 1936, following the State Budget announcement in June, has now passed through State Parliament and awaits the Governor’s assent. 

The Bill provides for changes in the way the aggregation of holdings is to be taxed, company grouping, the taxation of trusts at often a higher rate and altered taxation thresholds changing over a number of years.

This presentation, which will be an update on the previous presentation on the earlier Consultation Draft Bill, will describe the proposed changes and in particular will describe and comment on, where possible with some examples:

  • the provisions aggregating owner’s individual interests and providing for an allowance where an individual owner has also been taxed on joint holdings;
  • the regime for the taxation of trusts (and their beneficiaries in some situations), including the difference in treatment of fixed trusts, unit trust, discretionary trusts, trust on trust holdings, deceased estates and constructive, resulting and implied trusts;
  • the grouping of certain related corporations and the single corporation assessment rule that is contemplated;
  • the changes to the rate scale and thresholds including the new rate for trusts;
  • the ex gratia regimes including for those adversely affected by the changes;
  • the relief to be afforded to certain development holdings; and
  • the notification regimes that are contemplated.

Targeted Experience Level:      Intermediate

Member Admitted more than 3 years: $110
Member admitted less than 3 years: $85
Non member: $160
12/12/2019 5:30 PM - 7:00 PM
The Law Society of South Australia Level 10, 178 North Terrace ADELAIDE SA 5000 AUSTRALIA

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