The 2012-13 SA Budget was handed down on Thur 31.5.2012. SA Treasurer Jack Snelling announced the deferral of the proposed abolition of stamp duty on non-quoted marketable securities and non-real property transfers. He said the Government “will look to reschedule the abolition of these taxes as its fiscal position allows”.
Mr Snelling announced that the payroll tax exemption for trainees and apprentices will be replaced with a targeted payment from 1 July 2012. Registered group training organisations will receive an offset of their payroll tax for apprentice and trainee wages. Other employers will receive incentive payments upon the completion of qualifications by apprentices they employ in priority skill areas.
The Treasurer also announced that a full stamp duty concession will be made available for off-the-plan apartment purchases in the Adelaide City Council area for 2 years, with a partial concession available for the following 2 years. In addition, he said the First Home Owner Bonus payment of $8,000 will continue for eligible contracts entered into in 2012-13. (The Bonus will be abolished from 1 July 2013.)
Further information
RevenueSA has released the following publications:
- (State Budget 2012-13);Information Circular No 40
- Information Circular No 41 (Stamp Duty on Off-the-Plan Apartments);
- Information Circular No 42 (First Home Bonus Grant);
- Information Circular No 43 (Exemption for Wages Paid to Apprentices and Trainees);
- Information Circular No 44 (Stamp Duty on Non-Real Property Transfers and Non-Quoted Marketable Securities); and
- Information Circular No 45 (Stamp Duty – Inner City Rebate).
RevenueSA noted that the Statutes Amendment (Budget 2012) Bill 2012 (SA) has been introduced into the SA Parliament on Thur 31.5.2012. The Bill proposes to implement a number of the Budget announcements.
[LTN 104, 31/5]