The South Australian Government handed down its final budget before it goes to the polls in 2026 last week.
With a surplus of $18m, what does this budget contain for industry?
Here is a breakdown of some key measures:
 Key Budget Indicators
- $18m surplus for 2024-25
- State debt of $48.495bn by 2028/29 with an annual interest bill of $2.453bn – or $6.72m per day
- 1.25 per cent GSP in 2024-25
- 1 per cent Employment Growth in 2024-25
- 2.75 per cent CPI in 2024-25
- 1.2 per cent population growth to the September quarter 2024
Tax
- Total property taxes equate to $1.12bn in 2024-25
- Land tax revenue in 2024-25 has been revised up by $31 million since the 2024-25 Budget
- Conveyance duty revenue in 2024-25 to be $240m higher than forecast
- In 2025-26, residential site values are estimated to increase by around 15 per cent, and non-residential site values are estimated to increase by around 12 per cent
- Forecast growth in private land tax collections of ~12 per cent in 2025-26
- Property tax growth forecast to rise 7.7 per cent in 2025-26
- General tax-free threshold for land tax increase to $833 000 and the top tax rate (2.4 per cent) threshold increase to $3.116 million in 2025-26
- Emergency Services Levy increases by 4.2 per cent
Housing
- $270.1m over nine years to deliver the Playford Alive East project, which will provide more than 1300 new residential allotments
- $135.1m over three years for a range of projects supported by the Commonwealth Government’s HAFF – Round 2
- $30.5m over six years to deliver the Onkaparinga Heights development site to market, expected to provide at least 2000 residential housing lots
- $104.7m over six years to deliver the Southwark Master Plan project, which will provide up to 1300 dwellings