If you entered into a contract to purchase an apartment between 22 June 2017 and 30 June 2018, that is eligible for a stamp duty off-the-plan concession, you may be eligible for relief from land tax for up to 5 years from the date of settlement.
You do not need to apply for this relief as it will be applied automatically for the first 5 years based on your stamp duty off-the-plan concession application.
This relief will cease for the following financial year if the apartment is sold before the end of the 5 year exemption period.
This relief does not extend to foreign purchasers.
Am I eligible for the off-the-plan land tax relief?
If you entered into an eligible off-the-plan contract for the acquisition of land between 22 June 2017 and 30 June 2018, and you received the stamp duty off-the-plan concession for the purchase, you are entitled to relief from land tax for the first 5 financial years.
Contracts entered into before or on 21 June 2017 or on or after 1 July 2018 are not eligible for land tax relief.
How do I apply for the off-the-plan land tax relief?
If you have been granted a stamp duty off-the-plan concession for the apartment, we will automatically apply the land tax relief. RevenueSA will notify you if relief has been granted and the period the relief applies to.
Why have I lost my off-the-plan land tax relief?
Land tax relief depends on your eligibility to receive a stamp duty off-the-plan concession. If your stamp duty off-the-plan concession is revoked as you did not met the eligibility criteria, your land tax relief will also be removed.
I am transferring my land to a related entity, will I lose the land tax relief?
Yes. The relief is only available to the purchaser/transferee who received the land under the eligible off-the-plan contract.
The site value of my land is beneath the tax-free threshold for land tax, can I defer my 5 year relief until I have to pay land tax?
The relief cannot be deferred. All land in South Australia is considered taxable, even if it is under the tax-free threshold. Accordingly, the 5 year relief commences from the first 30 June you are an owner of the eligible land.