RevenueSA is rewriting the Stamp Duties Act 1923 (the "Act") and we would like your feedback on how the Act could be improved. Your feedback is important to us and will ensure the issues that matter to you are considered and used to help shape this important rewrite.
Most Australian jurisdictions completed a Rewrite of their stamp duties legislation in and around 2001, with Western Australia being the most recent State to pass their Duties Act 2008. The Rewrite of the Act in South Australia has long been anticipated in the taxation industry and general public. RevenueSA has reviewed the design and structure of the Act by considering the Duties Acts in other Australian jurisdictions.
The Rewrite of the Act is being undertaken to:
The intended outcome of this project is to amend or abolish parts of the Act which are counterproductive to business in terms of rules and processes, compliance, competitiveness or are otherwise redundant.
The Rewrite is not an opportunity to alter existing Government policy which underpins the current revenue base arising from stamp duty. In other words, the Rewrite is intended to be revenue neutral, with the aim only to reduce complexity and facilitate improved compliance with the Act.
Now is the opportunity to provide any input you may have on how you believe the Act should be structured and what current provisions can be simplified as part of the Rewrite. It is also the opportunity to provide suggestions that will simplify taxpayer compliance obligations under the Act.
Visit the YourSAy site to find out how you can get involved in the consultation process. Consultation closes on 26 July 2019 .