When you buy a property in Australia, you'll normally pay a state government tax known as stamp duty. In Tasmania, this is called property transfer duty, and it's payable whenever you acquire an interest in a property.
Transfer duty can cost you thousands or tens of thousands of dollars. Eligible Tasmanian first home buyers and pensioners can get 50% discounts, depending on eligibility criteria and the value of the property.
How much is stamp duty in Tasmania?
Property transfer duty in Tasmania is calculated based on either the price you have paid for the property, including GST, or the unencumbered value of the property, whichever is higher. Usually, if you purchase the property on the open market, the price you agree to pay is what is used to calculate your stamp duty.
Property transfer duty is calculated on a sliding scale ranging from 1.75% up to 4.5%, rather than a set percentage, as described in the table below:
You can use Finder's stamp duty calculator to estimate your transfer duty costs. Just set the state to TAS before entering your details. Note that this is just an estimate and may not reflect your actual costs.
Finder survey: What do Australians of different ages think is the biggest hurdle to getting a home loan?
Response
75+ yrs
65-74 yrs
55-64 yrs
45-54 yrs
35-44 yrs
25-34 yrs
18-24 yrs
Getting approved for a loan with a good interest rate
27.91%
24.22%
24.56%
22.71%
26.77%
23.3%
32.86%
The deposit
27.91%
39.13%
44.44%
46.86%
44.09%
40.78%
25.71%
Getting a loan without typical employment
18.6%
11.18%
8.19%
8.7%
4.72%
12.14%
12.86%
Nothing - I do not think there are hurdles
16.28%
13.66%
5.26%
5.8%
3.94%
1.94%
2.86%
Finding the right property
6.98%
6.83%
12.87%
12.56%
17.72%
17.48%
20%
Previous debts
2.33%
3.73%
4.09%
2.42%
1.97%
4.37%
5.71%
Other
1.24%
0.58%
0.97%
0.79%
Source: Finder survey by Pure Profile of 1112 Australians, December 2023
Stamp duty concessions for first home buyers
First home buyers are eligible for a 50% concession on property transfer duty when they buy an established home valued at $600,000 or less.
To qualify, the buyer must occupy the home as their principal place of residence for a continuous period of six months, beginning within 12 months of the transfer. When purchasing as a couple, both parties need to be first-time buyers in order to receive the concession.
Pensioners can also receive a 50% concession when they downsize to a new home. Like the first home buyer concession, this discount only applies if the property is valued at $600,000 or less.
Example
Ben and Jacinta are buying a home in Hobart, valued at $695,000. Neither of them has owned a property before, so they're eligible for the first home buyer concession. Instead of paying $26,535 in property transfer duty, they will only need to pay $13,267.50.
When is stamp duty payable?
Property transfer duty is payable within three months of your property purchase, and needs to be paid to the State Revenue Office (SRO). Many buyers pay their transfer duty at settlement.
You (or more likely your conveyancer) will need to lodge the required documents, such as the agreement for sale and transfer instrument, with the SRO either in person, by mail or online. You can pay when you lodge, using the SRO's Property Transfer Duty Calculator to estimate how much you owe, or wait for the SRO to send you an assessment.
The documents you lodge need to include a duty lodgement cover sheet, which is available to download from the SRO website.
More questions about Tasmania stamp duty
In Tasmania, the purchaser of the property or the transferee is liable to pay stamp duty when the sale or transfer takes place.
There are no exemptions from paying stamp duty in Tasmania, but if you are a first home buyer or pensioner who is downsizing, you may be eligible for a 50% concession.
They can include a range of expenses including legal fees, building inspection costs and bank fees. Review our guide.
Yes! If you're building a home, or purchasing a newly built property, you should be able to claim both the $20,000 grant and the stamp duty concession.
No, only first home buyers who will make the property their principal place of residence within the first 12 months are eligible for the concession, not investors.
Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio
Rebecca's expertise
Rebecca has written 201 Finder guides across topics including:
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