- Transitioning support for auto supply chain companies
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- Unlocking super
- The truth behind business failure
- 2015 Distinguished Family Business of the Year
- Melbourne plan refresh: The 2050 metropolitan planning strategy
- New fees hurt developers’ bottom line
- Payroll Tax Rebate – Action before 23 November 2015
- New South Wales State Budget 2015-16
- Western Australian Real estate & construction update
- Victoria Real estate & construction update
- South Australia Real estate & construction update
- Queensland Real estate & construction update
- New South Wales Real estate & construction update
- State revenue offices and the ATO information sharing
- Redundant corporate entities?
- Streamlined process for new business applications
- Imported building materials under scrutiny
- Tightened lending rules threaten industry growth
- Any GST hike must be offset
- New PM appoints Minister for Cities
- Reforming Australia’s Federation and Tax System
- A message from our Global Head of Real Estate & Construction
- Adelaide CBD property outlook – Key considerations
- The deadline is looming for the Exploration Development Incentive
- Valuing Employee Share Schemes (ESS) – Impending Tax Changes
- Queensland State Budget 2015-16
- New restrictions on entertainment salary packaging
- NADA conference day three
- NADA conference day two
- Do you have the keys to NADA 2015? Day 1
- South Australian State Budget 2015-16
- 27 Pay Periods in 2015/16
- Corporate simplification and solvent liquidations
- Fringe Benefits – Hidden FBT and deemed dividend issues
- NSW Payroll Tax Rebate
- SuperStream compliance
- Should I maintain my SMSF?
- Art and collectables as alternative investments
- Tax alert: GST ruling published
- Western Australian State Budget 2015-16
- New funding opportunities for Australian food & beverage companies
- Super fund investment choice – What are the options?
- Nominating beneficiaries for your superannuation benefits
- Superannuation consolidation
- Victorian State Budget 2015/16
- Encouraging innovation in Australia’s Life Sciences and Biotechnology industries
- Fraud in focus: Fraud and corruption in Banking and Financial Services
- The Federal Government's Tax discussion paper released today
- Tax alert: Refunds of excess GST
- New Employee Share Scheme Bill Introduced
- SuperStream employer webinars
- Staying vigilant against fraud
- Tax Alert: Are you meeting your employment tax obligations?
- Tax alert: No change to R&D tax offset rates
- Act now to be ready for FATCA
- Tax alert: Changes to Employee Share Scheme Tax Laws
- Tax alert: GST & remote housing accommodation
The following key considerations arose from our recent event and panel discussion on Adelaide CBD’s property outlook featuring speakers, The right Honourable Houssam Abiad (Adelaide City Council), Ms Lily Jacobs (CEO - Renew Adelaide) and Mr Daniel Gannon (Executive Director SA - Property Council).
South Australia’s stamp duty reform
The immediate reaction to the stamp duty cut has been positive, providing the South Australian property sector with a competitive advantage over other states from 1 July 2016. However, now that the dust has settled, there are questions being raised as to whether the decision to reduce duty rates over 3 years (rather than an immediate abolition) will dampen that competitive advantage. The real danger is the risk of a ‘handbrake’ effect on commercial real estate transactions over the next few years.
As the Commonwealth Government seeks to gain support for wholesale tax reform, other states will be looking to South Australia to gauge the impact of our stamp duty reforms.
Boosting vibrancy – the pop up vs. bricks & mortar argument
It is clear Adelaide needs a boost. Ways of promoting investment opportunities and putting Adelaide on the world-scale are a must. To do this there must be innovation and transformation. The past few years have produced the starting point in the form of food trucks and pop ups. Some have seen this as a threat to traditional bricks & mortar establishments. The challenge is how these traditional businesses can work together with pop ups and other innovative business models to enhance the value of their property investments.
Adaptive re-use is a key aspect of Adelaide CBD’s current sustainable development. It allows disused and ineffective buildings to be properly cared for. However, there is still too much red tape to be overcome before the adaptive re-use concept is fully streamlined and utilised. While the many statutory planning and zoning regimes aim to protect heritage buildings, they are currently too heavily controlled and the red tape encompassing zoning controls and building codes, particularly around change of use, requires reform.
Projects in the Pipeline
Houssam Abiad from the Adelaide City Council highlighted that Council is also on board to boost investment in the CBD in the coming years. They have a $175m budget over a 10 year plan set out, with $35m to be contributed to asset renewal. The key developments in the near future will be the old RAH site and the Riverbank Precinct, but a push for development in the central market area is also being made.