Property Transfer Duties

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Updated 18 July 2018:  Factsheet and form - Duty concession for first home buyers of established homes - use the more details link below

Provides a 50 per cent concession on property transfer duty for first home buyers of established homes with a property value of $400 000 or lower. The concession is available for 12 months from 7 February 2018 for homes that settle (transfers that complete) within that period. See more details here.

 

Updated 18 July 2018:  Factsheet and form - Duty concession for pensioners downsizing to a new home - use the more details link below
Provides a 50 per cent property transfer duty concession (for 12 months from 10 February 2018) to eligible pensioners who sell their existing home and downsize to a new home valued at $400 000 or lower. See more details here.​

 

Foreign Investor Duty Surcharge
Introduces a Foreign Investor Duty Surcharge from 1 July 2018 of an additional 3 per cent on the dutiable value for all transactions of residential property by foreign persons. An additional 0.5 per cent also applies on the dutiable value of a property for all transactions of primary production property by foreign persons. See more details here.

 

 

 

What is duty?

 

 

Duty (previously known as "stamp duty") is a form of taxation charged by the State Government, under the Duties Act 2001, when someone acquires an interest in property, usually by buying a property.

The type of property and the way it is acquired can impact the way that duty is assessed.

Property types subject to duty include, but are not limited to:

Duty must normally be paid by the purchaser/transferee within three months of the transfer of the property.

Multiple purchases (aggregation) - where there is a series of, or multiple, transactions by the same transferee or transferee(s) who are associated persons within 12 months, these transactions may be grouped together, or aggregated, for the purposes of calculating duty.

Further information is available on:

Abolished Duties


Duty on goodwill and other non-real business assets was abolished on 1 July 2008.

Calculation of duty on transactions after this date will exclude the value of non-dutiable items.

Mortgage Duty was abolished from 1 July 2007.

Tasmanian Revenue Online

Registered users can calculate the duty payable on some types of dutiable transactions and pay duty online through Tasmanian Revenue Online.




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