23 May 2019​

2019-20 State Budget measures 

The Tasmanian Government has announced the following measures:

A.  extension of Land Tax exemptions for: i) newly built housing made available for long-term rental, and ii) newly listed rental property made available for long-term rental;

B.  extension of Duty concessions for: i) first home buyers of established homes, and ii) pensioners downsizing to a new home;

C.  extension of the $20 000 First Home Owner Grant; and

D. respective increases to the Foreign Investor Duty Surcharge on the purchase of i) residential land, and ii) primary production land.
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The Government has also announced that during 2019-20, it will develop a foreign investor land tax surcharge. 

Please read this factsheet for a summary of points A to D above. The measures are subject to the passage of legislation through the Parliament or the gazetting of Ministerial Orders.​

 

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  • About Us
    The State Revenue Office is responsible for administering Tasmania’s taxation laws and certain Grants. The tax revenue collected helps pay for the services delivered by government to the benefit of the people who live, work and invest in Tasmania.
  • First Home Owner Grant
    The grant is a one-off payment for the purchase or building of a new home by eligible first home owners. The Grant has been increased to $20 000 for eligible transactions made between 1 July 2018 and 30 June 2020 inclusive. The extension of the scheme to $20 000 is subject to the passage of legislation in the Parliament.
  • Land Tax
    Land tax is applied to commercial or vacant land, holiday homes, rental properties and vacant homes. The tax is calculated on a property’s actual usage and ownership as at 1 July each year.
  • Motor Vehicle and Insurance Duty
    Motor vehicle duty is charged on an application to register a motor vehicle, to transfer a vehicle’s registration, or to change beneficial ownership of a vehicle. The duty is included in the registration process. Duty applies on General Insurance and Life Insurance. In most instances, the insurance company or broker typically arranges payment of the duty through the premium paid by the insuree.
  • Payroll Tax
    Payroll tax applies where the total wages paid by an employer in Australia are greater than $1.25 million per annum (or $24 038 per week during a month), or where the employer is a member of a group and their total Australian wages exceed $1.25 million per annum (or $24 038 per week during a month).
  • Pensioner Rates Remission and Electricity Concessions
    The Tasmanian Government offer a council rates remission for eligible pensioners (including certain health care card holders). Applicants apply through their local council. The Government offers the following electricity concession schemes for eligible customers - applicants apply through their electricity retailer: Annual electricity concession; Medical heating or cooling concession; and Life support concession.
  • Property Transfer Duties
    Duty is applied to most property transfers in Tasmania. Duty applies to, but is not limited to: Easements and covenants; Gifts and inheritances; Residential property; and Vacant land.
  • Tasmanian Revenue Online
    Tasmanian Revenue Online (TRO) is a secure web-based system for lodging payroll tax returns and self-assessing duty. Use this page to find out more about TRO or to register your interest.