The South Australian State Budget was handed down on Thursday the 2nd of June. We have had an opportunity to digest this release and reflect on what this means for fellow South Australians.
The State government has estimated that stamp duty from a booming property market has resulted in the government receiving more revenue. The only tax changes that have emerged from this Budget are in relation to motor vehicles for people living in remote regions and electric vehicles.
This Budget comes off the back of Malinauskas’ election promises and as such, we are seeing huge investment in health, education and infrastructure. The Budget has provision for several grants, first home buyer assistance, public housing funding and measures to ease the cost of living.
With cost of living being an area of concern for many South Australians, we see some relief with an increased cost-of-living concession, along with various other measures from a school materials and services subsidy to free public transport use for eligible pensioners. Read on for more examples of how the 22/23 SA State Budget is addressing issues of importance.
Bentleys advisors are specialists in budgeting and business, keeping you up to date with what you need to know. If you want to understand how these budget measures may impact you, please contact a Bentleys advisor today.