Lessons we've learned from Jess Fox. Read more
This budget forecasted a surplus of $18m for 2024-25, with the government estimating surpluses for the next four years.
Net debt is estimated to reach $31b in 2024-25, forecast to increase to $48.85b by 30 June 2029 due to large infrastructure projects and government investment. The unemployment rate was recorded at 3.9 per cent in April 2025, with employment estimated to grow by 1 per cent per annum until 2028-29.
Separately, the budget has included spending towards COP31 (the 31st annual meeting of the Conference of the Parties under the United Nations Framework Convention on Climate Change), to fund preparations if the Commonwealth Government wins the bid to host in Adelaide – which will include planning, security, transport and infrastructure.
$1.9b for health services to recruit more healthcare workers, including $2.2m to expand scope of services for pharmacists.
$650m towards the Sovereign Steel Package in partnership with the Commonwealth Government.
$552m to build 2,935 additional houses and the introduction of a Rent-To-Buy Affordable Housing Initiative.
$170m over six years for police funding.
$125m for the High Productivity Vehicle Network to improve freight efficiency.
$103m for digital investment including an artificial intelligence program across the public sector.
A further $55.4m for a drought package to be rolled out to farmers across various regional communities.
$50m towards a Venture Capital Fund for entrepreneurs.
$20m to upgrade court infrastructure, including $4.8m towards court security.
$20m Powering Business Grants Program for small to medium-sized businesses and not-for-profit organisations.
$13.5m in the Defence Innovation Partnership, supporting defence-related research and development.
$8.3m over two years to prepare for COP31.
$3.3m for the Advanced Manufacturing and Defence Uplift program to encourage innovation within South Australian businesses.
As previously promised, no new taxes or tax increases are included in the 2025-26 Budget.
Since the 2024-25 Mid-Year Budget Review, taxation revenues have been revised up due to conveyance duty and land tax revenue reflecting strong property market conditions. The government notes that the upward revision in 2024-25 reflects stronger than expected growth in residential property prices and transactions, which flows through to future years. Land tax revenue is largely unchanged in 2024-25 and has been revised up from 2025-26. The upward revision reflects stronger than expected growth in property site values over the 2024 calendar year, which informs valuations for the 2025-26 land tax year.
The budget includes two non-taxation revenue measures, aimed at delivering cost of living support to the community. The government has extended its election commitment by continuing the $200 reduction to school parents, caregivers and independent students for the materials and services charge applied per student by government schools. In addition, the government is permanently reducing the price of a metroCARD student 28-day pass. The price of this pass will reduce from its current price of $28.60 to $10 from 1 July 2025.
If you wish to discuss the South Australian Budget announcements, please reach out to a Grant Thornton Partner today.
