Legislative Council Fifty-Fourth Parliament, Second Session (54-2) 54 2 Parliament of South Australia Legislative Council published Answers to Questions Answers to Questions Land Tax Land Tax The Hon. J.A. DARLEY Legislative Council Land Tax In reply to the Hon. J.A. DARLEY (10 September 2020). The Hon. R.I. LUCAS Legislative Council Land Tax The Hon. R.I. LUCAS (Treasurer): I have been provided the following advice: The land tax letters referred to information being held by RevenueSA in its online system and provided an opportunity for landowners to update the information held by RevenueSA and to supply additional information where relevant. As at 23 September 2020, approximately 193,000 land holding declarations have been received through the RevenueSA online land tax portal, with a further 18,500 declarations in progress. Approximately 170,500 landholders have not provided a response. Some landowners would not have needed to provide information, for example, if they only own land which is exempt or if they only own taxable land not subject to a trust with a total site value that falls below the new land tax free threshold of $450,000. No penalties apply for not providing a response. Where a landowner took no action with respect to the land tax letters sent and subsequently receives a land tax assessment that is incorrect, they may provide RevenueSA with the necessary information at that time in order for a reassessment of their land tax liability to occur. Pursuant to Part 5, Divisions 1 and 2 of the Taxation AdministrationAct 1996, interest and penalty tax may apply in circumstances where false, misleading or incomplete information has been provided to the Commissioner of State Taxation, or information that should have been provided has not been so provided.