Land tax payers will have access to a special hotline staffed by Treasury officials from today, as part of a suite of measures designed to inform South Australians about the comprehensive reforms, which will come into effect from July 1 next year.
Other measures include an updated RevenueSA website, featuring a link to an online land tax calculator enabling individuals and company groups to assess their land tax liability for the 2020-21 financial year, as well as the capacity to email questions directly to RevenueSA staff.
There will also be an offer of Treasury-led seminars for professional organisations, representing accountants and lawyers for example, where RevenueSA staff provide expert advice to those people who provide professional advice to clients regarding land tax.
Treasurer Rob Lucas said it was important all property owners who were land tax payers, or who might become taxpayers, were fully informed of the Government’s land tax changes and how they might - or might not - be impacted.
“Now that these historic laws have passed, we have a responsibility to ensure that all South Australians liable for land tax are well informed of what the changes will mean for them,” said Mr Lucas.
“We have implemented a range of measures designed to make it easier for individuals and companies to seek and receive the information that’s relevant to them and provide them greater clarity and comfort in relation to the reforms.
“From today, the RevenueSA website will be up-to-date with the latest information, there’ll be an online calculator so individuals can assess their land tax liability for next financial year, and we’ll have Treasury staff ready and able to answer calls via the new land tax hotline.”
The reform package – which reduces the top land tax rate from a national high 3.7% to just 2.4%, making South Australia a far more competitive place to do business, to attract investment and create jobs – will benefit 92% of individuals and 75% of company groups.
As part of the information campaign, a letter from the Treasurer is also being sent to about 270,000 property owners (at an estimated cost of about $270,000) detailing the comprehensive changes, including revised rates and thresholds and information about the Government’s $25 million transition fund and eligibility criteria.
Mr Lucas said an inevitable consequence of this process would be that, if an individual owns multiple properties, they may end up receiving multiple letters. Unfortunately, this could not be avoided.
“Ultimately, we want South Australians to head into the new financial year armed with all the information they need when it comes to our positive land tax reforms,’’ said Mr Lucas.
To find out more about the land tax reform package or access the online calculator visit www.revenuesa.sa.gov.au/LandTaxChanges . The RevenueSA hotline is 8226 3750 or, alternatively, South Australians seeking more information can send an email to firstname.lastname@example.org