The Tasmanian Liberal Government is delivering the cost of living relief for Tasmanians as part of our 2030 Strong Plan for Tasmania’s Future.
Since the new financial year has started, Tasmanians are now realising their dream of easier home ownership.
Minister for Finance, Nic Street said the Government has made it easier for Tasmanians to enter the property market.
“We have abolished stamp duty for eligible first home buyers on the purchase of an existing home,” Minister Street said.
“The property value cap has also been increased from $600,000 to $750,000.
“First home buyers will pay no stamp duty on properties valued up to $750,000, saving them up to $28,900.
“This will make a real difference in helping more Tasmanians buy their first home.
“The policy is retrospective to 18 February 2024, which means any eligible first home buyer who has bought an existing house, unit or apartment since this time will receive a refund of stamp duty.
“Eligible Tasmanians who received the 50 per cent duty concession will be refunded any stamp duty already paid on the transfer of their property.
“The State Revenue Office will issue refunds to those who meet the eligibility criteria.”
The First Home Buyer Duty Exemption will run until 30 June 2026.
Tasmanians can find out how much they will save through our Stamp Duty Calculator at www.stampoutstampduty.com.
Under our 2030 Strong Plan for Tasmania’s Future, we are delivering on the things that matter to Tasmanians and this includes helping Tasmanians buy their first home.
