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SA – Revenue SA changes from 22 June 2017

30 June 2017 by By Lawyers

Off the plan apartments.

A $10 000 grant will be provided to eligible off-the-plan apartment purchasers where the contract is entered into between 22 June 2017 and 30 September 2017.

Off-the-plan stamp duty concession.

From 22 June 2017 the off the plan stamp duty concession no longer applies to foreign purchasers. Generally the concession has been extended until 30 June 2018 .

Land tax exemption

A five year land tax exemption will apply to eligible apartments bought off-the-plan where the contract is entered into between 22 June 2017 and 30 June 2018.

Foreign purchasers – From 1 January 2018

A stamp duty surcharge of 4% will apply to foreign purchasers of South Australia residential property.

Filed Under: Conveyancing and Property, Legal Alerts, Publication Updates, South Australia Tagged With: Conveyancing & Property, foreign purchasers, land tax, off the plan

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