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South Australian Stamp Duty Relief for Commercial Property Transactions

The State Government brought forward the stamp duty concession reductions. For all commercial property contracts signed after 7 December 2015 the stamp duty would be reduced by one third. Further reductions of one third will take effect on the 1 st July 2017 and 1 July 2018. Thereafter there will be no stamp duty on the transfer of eligible commercial property.

 

 

 

GST - The  going concern exemption.

 

Presently if you buy a business or an occupied commercial property, and both the vendor and purchaser agreed and were both registered, there would be no GST payable. This not only has  the cashflow advantage but also there is no (state) stamp duty levied on the GST.

Key Dates - November 2019

Date Category Description
     
21 Nov 2019 Activity statements  Due date to lodge and pay monthly activity statements for October 2019. Tax obligations that may be payable include:
  • GST, wine equalisation tax and luxury car tax for October 2019.
  • PAYG withholding for October 2019 (medium withholders).
  • PAYG instalment for October 2019 for monthly PAYG instalment payers (corporate tax entities with instalment income (as defined) above $1 billion).
     
25 Nov 2019   Due date to lodge and pay quarterly activity statements for the September 2019 quarter (if lodged electronically through a tax agent or BAS agent). Tax obligations that may be payable include:
  • GST, wine equalisation tax and luxury car tax for the September 2019 quarter.
  • PAYG withholding:
    • for September 2019 (medium withholders).
    • for the September 2019 quarter (small withholders).
  • PAYG instalment for the September 2019 quarter for quarterly PAYG instalment payers (1st quarter of the 2019/20 income year).
  • FBT instalment for the September 2019 quarter (2nd quarter of the 2020 FBT year).

The due date to lodge and pay is 28 Oct 2019 if lodged on paper.

     
28 Nov 2019 Superannuation  Due date for employers who failed to pay the minimum superannuation guarantee contributions by 28 Oct 2019 to pay the superannuation guarantee charge (SGC) and lodge a Superannuation guarantee charge statement - quarterly. The SGC is not tax deductible.

NOTE:
  • As some dates may vary, please ensure you contact the Australian Taxation Office to double check any dates in question.
  • When the due date for lodgement or payment falls on a Saturday, Sunday, or public holiday, it may be done on the next business day.

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