Land Tax

The Hon. S.C. MULLIGHAN (Lee) (15:00): Supplementary: are any land tax payers affected by this new measure due to receive land tax reductions as a result of the measures in last year's budget?

The Hon. S.S. MARSHALL (Dunstan—Premier) (15:01): I'm not quite sure where the member for Lee is going with that question. My understanding of the 50,000 people who pay land tax in South Australia is that the reforms that we have put in place will knock out about 8,000 of them paying any land tax whatsoever in South Australia. That is a function of increasing that threshold. We had a very low threshold and a very high rate under the previous government.

We are trying to address both those issues, increasing the threshold, reducing the rate quite substantially from 1 July next year for those people who have a land value under $5 million, and then making a progressive reduction for those who have a landholding above $5 million after we implement the new aggregation arrangements, which we will consult people on going forward and have in place for 1 July next year.