State Budget 2012-13

Status: Current  
Legislation: Statutes Amendment and Repeal (Budget 2012) Act 2012
Date Issued: 6 December 2012

Information Circulars do not have the force of law.

Background

The Statutes Amendment and Repeal (Budget 2012) Act 2012 (the “Amending Act”) which gives effect to measures announced by the Government in the State Budget on 31 May 2012 was today assented to by His Excellency the Governor.

Discussion

The Amending Act contains the following amendments:

• Introduction of a stamp duty concession that will apply for the next 4 years for purchases of off-the-plan apartments within the area of The Corporation of the City of Adelaide.
  
  Further information relating to the concession, including the eligibility requirements, is outlined in Information Circular 48.
• Abolition of the payroll tax exemption for apprentices and trainees.
  
  Further information relating to the abolition of the exemption is outlined in Information Circular 43.
• Introduction of a stamp duty exemption for a conveyance of a carbon right created under an Act of the Commonwealth or a conveyance of a renewable energy certificate created under the Renewable Energy (Electricity) Act 2000 (Cwlth).

As part of the 2012-13 State Budget, the Government also announced the continuation of the $8,000 First Home Bonus Grant (FHBG) until 30 June 2013. Further Government announcements on 15 October 2012 have resulted in the FHBG being replaced by the Housing Construction Grant. Further information is available in Information Circular 51.

The FHBG will still be available for contracts entered into on or before 14 October 2012. The eligibility requirements for contracts entered into between 1 July 2012 and 14 October 2012 remain unchanged and further details in this regard can be found in RevenueSA’s Information Circular 42.

View this Information Circular as a pdf (PDF 241KB)