Stamp duty breaks and cheap land tax headline SA investment push
The South Australian state government has kicked off a campaign to attract more companies into the jurisdiction, highlighting the “competitive advantages” at play.
Touting a competitive payroll tax regime, a top land tax rate below Victoria’s and its status as “the only state or territory not to charge stamp duty on commercial property transactions”, the new campaign from Invest SA is simply titled: Business is Better in SA.
In a play clearly marked as a jab at Victoria’s “covid debt levy”, the announcement of the campaign from the Malinauskas government reiterated that the South Australian state government “has committed to no new taxes or current tax hikes”.
Part of the campaign has seen Invest SA take out billboards around Melbourne alongside social and digital media marketing to promote the tax breaks, better affordability and better commercial spaces.
It’s also pushing better commute times and better lifestyle as part of the broader business play.
With the campaign running until mid-September, the marketing blitz follows South Australia’s achievement of the highest growth in an economy across the country over the June quarter.
According to the government, that uplift was achieved through strong public and private investment.
South Australian Premier Peter Malinauskas said the message to businesses “is clear”.
“Come to South Australia for a more competitive environment in a state that values your contribution to our economy and local jobs,” he stated.
Adding that the state “is open for business”, he quipped: “South Australians know business really is better in SA.”
His sentiment was supported by Minister for Trade and Investment, Nick Champion, who said that the campaign highlights how South Australia is “well placed to capitalise” on the advantage it offers businesses when it comes to investment settings.
Committee for Adelaide CEO, Sam Dighton, has backed up the enthusiasm by pointing out the “significant potential” being found across the South Australian capital.
He stated: “The recent Benchmarking Adelaide Report demonstrates that Adelaide is a city of opportunity whose solid population growth and an appealing business environment underpin resilient demand from corporates.”
He also opined that “Adelaide punches at or above its weight for attracting investment into creative and technology sectors like AI, film, television and business processes”.
“The Committee for Adelaide applauds the government’s efforts to increase investment in South Australia, particularly to grow the business community and encourages further engagement with the Adelaide business community,” Mr Dighton added.
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