Feb 02, 2021 / News

Land Tax / Taxation

SA Land Tax Update 2021

If you haven’t already received your 2020/21 SA land tax assessments, a second round has just been dispatched by Revenue SA.

Important information to note:

  • Beneficiary nominations for discretionary trusts can still be made up until 30 June 2021. After this time it will be too late and any assessable land in SA held in the trust will be taxed at surcharge rates
  • Statutory declaration forms required to make beneficiary nominations can be witnessed by Chartered Accountants and other professionals under the Covid-19 Emergency Services Act 2020 up until 31 May 2021. After this time they will need to be witnessed by a Justice of the Peace or an Officer for Taking Affidavits
  • RevenueSA will allow payment arrangements where payments cannot be made on time given the late release of assessments. Please contact our office if you require assistance
  • Please review land tax assessments received to ensure your principal place of residence (PPOR) is exempt, as we have seen a number of assessments where the land site value of the ratepayer’s PPOR has been incorrectly included in the calculation.

How can Nexia Edwards Marshall help you?

If you have any questions or require assistance making a beneficiary nomination, please contact your Nexia Edwards Marshall advisor or our State Taxes expert George Papanicolaou.

The material contained in this publication is for general information purposes only and does not constitute professional advice or recommendation from Nexia Edwards Marshall. Regarding any situation or circumstance, specific professional advice should be sought on any particular matter by contacting your Nexia Edwards Marshall Adviser.