What is stamp duty in TAS?
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
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.
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 |
Investment stamp duty | $18,247 |
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 | $18,247 |
$750,000 | $28,935 | $28,935 |
First-home buyer stamp duty rates in TAS
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 |
Who pays stamp duty in TAS?
Except for eligible first-home buyers, anyone purchasing property in TAS as a primary residence, investment, or for commercial purposes is required to 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.
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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