Budget deficit down, land tax changed

Submitted 28/01/2010

AAP

 

 

South Australia recorded a $233 million budget deficit in 2008/09, some $32 million better than forecast, the State Government says.

Treasurer Kevin Foley delivered the mid-year budget review this afternoon, two months after its usual announcement time in November.

Mr Foley also used the media attention to announce changes to land tax in the state.

He said the tax-free threshold for land tax would be increased from $110,000 to $300,000 from July this year.

The change was expected to provide tax savings for about 75,000 South Australians, he said.