Land Tax

The Hon. S.C. MULLIGHAN (Lee) (14:43): My question is to the Premier. For the next financial year when the land tax measures are due to come into force, will the current land tax proposals deliver as much relief to South Australians as the measures contained in last year's budget?

The SPEAKER: There was a little bit of chatter. Could the member for Lee repeat that, please?

The Hon. S.C. MULLIGHAN: For the next financial year when the land tax reforms are due to come into operation, will the current land tax proposals deliver as much relief to South Australians as the measures contained in last year's budget?

The Hon. S.S. MARSHALL (Dunstan—Premier) (14:43): I thank the honourable member for his question. We have made it very clear what that update is going to be. We have put our model and our draft legislation out for consultation. We have made it very clear what we think it will bring in, which is an additional $85 million in the first year, and we know that the reduction in revenue will come from that reform.

The package we have out at the moment is $105 million. So it's $105 million worth of land tax relief, $85 million worth of additional revenue, resulting in a $20 million reduction in our first year. In the second year, this increases to $24 million. As I have updated the house on numerous occasions—and I am happy to do this again—over the first three years, it is a $70 million net reduction.