Summary of Changes 2015-16
Status: Current
Legislation: Land Tax Act 1936
Date Issued: 1 July 2015
Information Circulars do not have the force of law.
Section 8A of the Land Tax Act 1936 provides that from and including the 2011-12 financial year, based on figures provided by the Valuer-General, the land tax thresholds are to be indexed by the average percentage change in site values (refer to Information Circular No. 17).
The Valuer-General has published a Notice in the Gazette advising that the average percentage change in site values is 2.7% and the corresponding Index Value relevant to the adjustment of land tax thresholds is 1.078. These determinations are made by the Valuer-General having regard to the Valuation of Land Act 1971 and the Land Tax Act 1936.
The table below shows the Index Value since 2010-11.
| Financial year | 2015-16 | 2014-15 | 2013-14 | 2012-13 | 2011-12 | 2010-11 |
|---|---|---|---|---|---|---|
| Index value | 1.078 | 1.049 | 1.041 | 1.033 | 1.052 | 1.000 |
Accordingly, the Commissioner of State Taxation published a Notice in the Gazette on 4 June 2015 setting out the adjusted threshold relevant to the 2015-16 land tax financial year.
The adjusted thresholds for the 2015-16 land tax financial year are as follows:
| Total taxable site value | Amount of tax |
|---|---|
| Below $323,000 | nil |
| $323,001 to $593,000 | $0.50 for every $100 or part of $100 above $323,000 |
| $593,001 to $862,000 | $1,350.00 plus $1.65 for every $100 or part of $100 above $593,000 |
| $862,001 to $1,078,000 | $5,788.50 plus $2.40 for every $100 or part of $100 above $862,000 |
| Over $1,078,000 | $10,972.50 plus $3.70 for every $100 or part of $100 above $1,078,000 |
Application fee for a Certificate of land tax payable
Under the provisions of the Land and Business (Sale and Conveyancing) Act 1994, a Certificate of Land Tax Payable (“Certificate”) may be obtained from RevenueSA showing the amount of land tax (if any) that will be payable in relation to the liability imposed for the financial year in which it is requested (including any arrears).
The issuing of a Certificate is subject to payment of a prescribed administration fee reviewed annually by the Government.
The fee prescribed for 2015-16 is $31.25.
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