5 measures from the South Australian Budget for 2017-18 which may impact on the building industry?
No changes to stamp duty on property.
First Home Buyers
No changes to the First Home Buyers Grant. For more information click here.
Foreign Investment Tax
A 4% foreign investment conveyancing tax on property has been introduced, removing a competitive advantage South Australia previously had over other states.
Social Housing Program
Continued roll out of the ‘1000 Houses in 1000 Days’ program
A South Australian Major Bank Levy is to apply from 1st July 2017 and is projected to raise $370 million over four years.
The Government has committed $550 million to energy measures including a new power generator and battery solution.
For more information click here.