Transitional land tax relief
Applications for the transitional land tax relief fund for the 2020-21 year are now due by 31 December 2021.
What it is
The land tax changes that were implemented for the 2020-21 year have resulted in significant changes to many land taxpayers bills. If you meet certain criteria and your land tax assessment increased by a certain amount, you may be eligible for a reduction in that land tax assessment. For the 2020-21 year, that reduction could be as much as 100% of the difference between your assessment and what your assessment would have been had the changes not been implemented.
In order to be eligible for the relief, firstly the landholder entity must be an individual or a company. Trusts cannot apply.
Secondly, the increase in your land tax assessment must be greater than $2,500 and less than or equal to $102,500. If the increases in your assessment is outside these bounds, you will not be eligible for any relief. The ‘increase’ in your land tax assessment is calculated as the difference between the actual amount payable on your land tax assessment and the amount that would have been payable (on land that was held at 16 October 2019 and still held at 30 June 2020) had the land tax changes not been implemented.
If you would like us to check if you are eligible and estimate the amount of relief you may receive then please contact us.
For more information and for a link to the online application form please go to Revenue SA’s website here.
Contact your Bentleys SA advisor to check for your eligibility and estimate the amount of relief you may receive.
08 8372 7900