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  4. Stamp Duty Rates, Discounts & Government Grants Tasmania (TAS)

Stamp Duty Rates, Discounts & Government Grants Tasmania (TAS)

Update: View stamp duty changes for Tasmania following the Tasmanian 2011/2012 state budget here.

There is 1 stamp duty discount and 1 grant available for Tasmanian property purchasers.

First Home Owner’s Grant

You can get the ‘First Home Owner’s Grant’ of $7,000 only if you plan on living in the property for at least 6 months and the property is not valued at more than $750,000.

This grant is part of a federal government initiative and is offered Australia-wide.

1st Home Buyer’s Stamp Duty Discount

The Duty Concession is a concessional rate of duty on the purchase of a property by a First Home Buyer. There are two types of concession available. The first relates to the purchase of established dwellings and the second relates to the purchase of land on which a dwelling is subsequently erected under a comprehensive home building contract by a builder or an owner builder.

A concession of up to a maximum of $4 000 will be applied to the purchase of established dwellings up to a dutiable value of $350 000. The maximum concession available in relation to the purchase of vacant land is $2 400, providing the dutiable value of the vacant land does not exceed $175 000.

Can I claim a first home owner’s stamp duty concession for an investment property?

From the State Revenue Office of Tasmania:

“The concession will be available to applicants who are eligible to receive the First Home Owner Grant (“FHOG”) provided the dutiable value of the property is $350 000 or less for an established dwelling, or $175 000 or less for the purchase of vacant land. Note: there are additional criteria that need to be met when purchasing vacant land. …

FHOG eligibility requirements are:
…
Applicants must occupy the home purchased or built, as their principal place of residence for a continuous period of 6 months commencing within 12 months of the date of purchase or completion of construction.”

Stamp Duty Rates & Thresholds

Rent Out or Live In Stamp Duty Rates

Value

Duty

Less Than $1 300

$20

$1 300 – $10,000

1.50%

$10 000 – $30 000

$150 + 2% of value over $10 000

$30 000 – $75 000

$550 + 2.50% of value over $30 000

$75 000 – $150 000

$1 675 + 3% of value over $75 000

$150 000 – $225 000

$3 925 + 3.50% of value over $150 000

More than $225 000

$6 550 + 4% of value over $225 000

 

1st Home Buyer’s Stamp Duty Discount Rates

Dutiable Value

Duty Amount

Duty Payable with concession applied

 

 

 

 

Established Dwelling

Vacant Land

$ 20 000

$ 350

Nil

Nil

$ 30 000

$ 550

Nil

Nil

$ 40 000

$ 800

Nil

Nil

$ 50 000

$ 1 050

Nil

Nil

$ 60 000

$ 1 300

Nil

Nil

$ 70 000

$ 1 550

Nil

Nil

$ 80 000

$ 1 825

Nil

Nil

$100 000

$ 2 425

Nil

$ 25

$120 000

$ 3 025

Nil

$ 625

$140 000

$ 3 625

Nil

$ 1 225

$160 000

$ 4 275

$ 275

$ 1 875

$175 000

$ 4 800

$ 800

$ 2 400

$180 000

$ 4 975

$ 975

$ 4 975

$200 000

$ 5 675

$1 675

$ 5 675

$220 000

$ 6 375

$2 375

$ 6 375

$240 000

$ 7 150

$3 150

$ 7 150

$260 000

$ 7 950

$3 950

$ 7 950

$280 000

$ 8 750

$4 750

$ 8 750

$300 000

$ 9 550

$5 550

$ 9 550

$320 000

$10 350

$6 350

$10 350

$340 000

$11 150

$7 150

$11 150

$350 000

$11 550

$7 550

$11 550

 

Stamp Duty & Grants Calculator

Want to calculate how much stamp duty you will have to pay and how much in government grants you can receive?

Use our Free Online Stamp Duty & Government Grants Calculator.

References

[1] State Revenue Office (SRO) Tasmania