Revenue SA – Grants and Concessions – Information on Off Plan Concession for the purchase of Apartments in a defined area – South Australia
What is the off-the-plan apartment concession?
The concession provides a full stamp duty concession on a transfer of a new apartment or substantially refurbished apartment for a contract entered into from 31 May 2012 to 30 June 2014 (capped at stamp duty payable on a $500 000 apartment) and a partial concession from 1 July 2014 to 30 June 2016.
For contracts entered into between 31 May 2012 and 27 October 2013 (inclusive), the concession only applies to purchases of off-the-plan apartments located:
- within the area of the Corporation of the City of Adelaide;
- on any land within the area where the Bowden Redevelopment project (Bowden Village); or
- on any land located within the area known as 45 Park, Gilberton.
For contracts entered into between 28 October 2013 and 30 June 2016 (inclusive), the concession applies to purchases of off-the-plan apartments located within the defined area (shown in the map below) and to sites that are contiguous to that area.
This concession replaces the Inner City Rebate. Contracts entered into on or before 30 May 2012 may be eligible to receive the Inner City Rebate. See Information Circular 45 for further details.