The Statutes Amendment and Repeal (Budget 2012) (No 2) Bill 2012 was introduced into the SA Legislative Assembly on 1 November 2012.
It proposes to amend the Stamp Duties Act 1923 (SA) to introduce a stamp duty concession announced in the 2012-13 SA Budget that will apply for the next 4 years for purchases of off-the-plan apartments in the Adelaide City Council area, Bowden Village and at 45 Park Terrace, Gilberton. The concession will provide a full stamp duty concession for the first 2 years ie 31 May 2012 to 30 June 2014 inclusive (capped at stamp duty payable on a $500,000 apartment) and a partial concession for the second 2 years ie 1 July 2014 to 30 June 2016.
The Bill also proposes to amend the Payroll Tax Act 2009 (SA) to remove the current payroll tax exemption for apprentices and trainees. From 1 July 2012, the existing payroll tax exemption for the wages of eligible trainees and apprentices will be abolished and replaced with a grant scheme administered by the SA Department of Further Education, Employment, Science and Technology.
[LTN 214, 5/11]
Bill passes with 2 amendments and awaits Royal Assent
The Statutes Amendment and Repeal (Budget 2012) (No 2) Bill 2012 (SA) has passed all stages of the SA Parliament with 2 amendments made in the Legislative Council. The Bill now awaits Assent.
[LTN 233, 30/11]