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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'.
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:
|Property value||Stamp duty payable|
Up to $3,000
$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
$27,810, plus $4.50 for every $100, or part, by which the dutiable value exceeds $725,000
|Property price||Owner-occupier stamp duty||Investment stamp duty|
|Property value||General stamp duty||Duty after concession|
Anyone buying property in TAS as a place of primary residence, investment or for commercial purposes must pay stamp duty. You must also pay stamp duty on property title transfers, including gifts (unless an exemption applies). It’s important to note that stamp duty is an additional cost to your deposit and property 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. This will increase your home loan repayments.
In TAS, stamp duty is payable within 90 days of settlement. Late payment penalties apply.
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:
There are no stamp duty exemptions for first-home buyers in Tasmania. However, there are a number of other concessions available:
First-home buyer concession: A 50% concession for first-home buyers of property valued below $600,000. 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.