What is stamp duty in Tasmania?
Stamp duty in Tasmania (TAS) is a state government tax on purchasing real estate, including homes, land, and commercial property. Stamp duty also applies to property title transfers. In TAS, stamp duty is simply referred to as 'duty'.
How much is stamp duty in TAS?
Stamp duty in TAS is charged on a sliding scale based on the property’s value. Rates increase as the purchase thresholds get higher. Depending on the property's value and contract dates, duty concessions and exemptions may apply to eligible buyers.
Stamp duty costs in TAS will vary depending on:
- The property's value
- Your residency status
- Your eligibility as a first-home buyer
- Your eligibility for pensioner concessions
General stamp duty rates in Tasmania
Property value | Up to $3,000 |
|---|---|
Stamp duty payable | $50 |
Property value | $3,001 - $25,000 |
Stamp duty payable | $50 plus $1.75 for every $100, or part, by which the dutiable value exceeds $3,000 |
Property value | $25,001 - $75,000 |
Stamp duty payable | $435 plus $2.25 for every $100, or part, by which the dutiable value exceeds $25,000 |
Property value | $75,001 - $200,000 |
Stamp duty payable | $1,560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75,000 |
Property value | $200,001 - $375,000 |
Stamp duty payable | $5,935 plus $4.00 for every $100, or part, by which the dutiable value exceeds $200,000 |
Property value | $375,001 - $725,000 |
Stamp duty payable | $12,935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375,000 |
Property value | $725,001+ |
Stamp duty payable | $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725,000 |
| Property value | Stamp duty payable |
|---|---|
Up to $3,000 | $50 |
$3,001 - $25,000 | $50 plus $1.75 for every $100, or part, by which the dutiable value exceeds $3,000 |
$25,001 - $75,000 | $435 plus $2.25 for every $100, or part, by which the dutiable value exceeds $25,000 |
$75,001 - $200,000 | $1,560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75,000 |
$200,001 - $375,000 | $5,935 plus $4.00 for every $100, or part, by which the dutiable value exceeds $200,000 |
$375,001 - $725,000 | $12,935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375,000 |
$725,001+ | $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725,000 |
$500,000 vs $750,000 property stamp duty example calculation in TAS
Property price | $500,000 |
|---|---|
Owner-occupier stamp duty | $18,247.50 |
Investment stamp duty | $18,247.50 |
Property price | $750,000 |
Owner-occupier stamp duty | $28,935 |
Investment stamp duty | $28,935 |
| Property price | Owner-occupier stamp duty | Investment stamp duty |
|---|---|---|
$500,000 | $18,247.50 | $18,247.50 |
$750,000 | $28,935 | $28,935 |
In June 2024, the Tasmanian government introduced a full stamp duty exemption for eligible first-home buyers purchasing established homes valued under $750,000. The exemption is available until 30 June 2026, after which it will be reviewed.
First-home buyer stamp duty rates in TAS
Property value | Up to $750,000 |
|---|---|
Stamp duty payable | $0 (full exemption) |
Property value | $750,000 + |
Stamp duty payable | General stamp duty rates apply |
| Property value | Stamp duty payable |
|---|---|
Up to $750,000 | $0 (full exemption) |
$750,000 + | General stamp duty rates apply |
Who pays stamp duty in TAS?
Anyone buying property in Tasmania – whether it's a home to live in, an investment property, or a commercial property – must pay stamp duty, unless they qualify as an eligible first-home buyer. Stamp duty also applies when a property title is transferred, even if it’s a gift, unless an exemption applies.
Keep in mind that stamp duty is an extra cost on top of your house deposit and the purchase price.
If you're buying a property with the help of a conveyancer, they may take care of the paperwork and lodge the payment with the revenue office on your behalf. You can ask your lender to increase the principal amount of your home loan to account for stamp duty. Doing so will increase your home loan repayments.
When is stamp duty in TAS payable?
In TAS, stamp duty is payable within 90 days of settlement. Late payment penalties apply.
How do you pay stamp duty in TAS?
Stamp duty can be paid by direct deposit, cheque, credit card, and other major payment options. In most cases, you’ll receive a notice from the State Revenue Office of Tasmania delivered to the address of the purchased property or by email. This letter will often contain:
- The amount of stamp duty payable
- Details on the tax and how it was calculated
- Concessions or exemptions included in the calculation
- Payment options
- Payment due date
- Information regarding late payments and associated penalties or charges
- Reference details for the notice and payment
What are the stamp duty exemptions in TAS?
Here are the stamp duty exemptions and concessions available in Tasmania:
First-home buyer stamp duty exemption
Since June 2024, a full stamp duty exemption applies for eligible first-home buyers of properties valued below $750,000. This applies to existing houses, units and apartments. There’s also a $30,000 first-home buyer grant in TAS that may help further reduce the cost of buying a home.
Pensioner downsize concession
A 50% concession for pensioners who sell their existing property and purchase a new home valued below $600,000.
Personal relationship exemption
Exemptions apply to transfers of a principal place of residence between a married couple or de facto partners.
Breakdown of relationship duty exemption
Stamp duty exemptions apply for property transfers following a divorce or separation.
Family farm exemption
Exemptions apply on transfers of farming land to family members or relatives.
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