A broad announcement was made at the state budget that land tax was going to be reduced from 3.7 to 2.9. This was one of the election promises from last year. However the Land Tax aggregation came as a surprise to many. This is mainly because a lot of the relevant industries were not consulted on this matter before it’s announcement. Initially the government announced that it was planning to raise 40 million dollars of revenue through the aggregation measures. Their estimations has been found out to be incorrect as they are going to raise closer to 86 million dollars from the aggregation instead. This is more than double the initial estimate which created a lot of controversy. A survey created by Commercial Legal has been circulating regarding this issue. If you want to have a say in this matter, it is not too late! Visit www.landtaxsa.com.au to have your say.
To find our more about land tax matters, be sure to check out the video above.
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