Home>Property Transfer Duties>Concessions and exemptions>First home buyers of established homes duty concession

First home buyers of established homes duty concession

The concession provides a 50 per cent discount on property transfer duty for first home buyers of an established home, which has a dutiable value of:

$400 000 or less for property purchases between 7 February 2018 and 15 March 2021 (inclusive); or
$500 000 or less for property purchases between 16 March 2021 and 31 December 2021 (inclusive).; or
$600 000 or less for property purchases between 1 January 2022 and 30 June 2024 (inclusive).

Eligibility
To be eligible for this exemption all of the purchasers/transferees:

must purchase an established home in Tasmania that does not exceed;

$400 000 or less between 7 February 2018 and15 March 2021 (inclusive); or
$500 000 or less between 16 March 2021 and 31 December 2021 (inclusive); or
$600 000 or less between 1 January 2022 and 30 June 2024 (inclusive); and

must be a natural person (not a company or a trust); and
must be at least 18 years of age*; and
must be an Australian citizen or permanent resident - or if there is more than one applicant, at least one of them must meet this criteria; and
must not have previously owned a home (or have a spouse/partner who owned a home) in Australia; and
must not have received a First Home Owner Grant in any state or territory of Australia or the Duty Concession before (or have a spouse/partner who has); and
must fully complete the application form and lodge with all relevant supporting documentation; and
must ensure each person holding a relevant interest in the property is listed on the application form.

Residential requirements

In addition to the above requirements, eligible transferees must occupy the home as their principal place of residence for a continuous period of 6 months commencing within 12 months of purchasing the property*.

To comply with the requirement of a principal place of residence, the property must be the place at which you usually eat and sleep – leaving personal belongings at a vacant residence is not sufficient to meet this condition. The duty concession may be applied in anticipation of this requirement being met.

* The Commissioner has a discretion to vary this requirement in some circumstances.

How to apply

To apply for the First home buyers of established homes duty concession or a duty refund:

Submitting by mail
Submitting electronically

To submit by mail, you will need:

completed forms, including:

Duty lodgement sheet;
Duty transferor information form for each transferor on the transfer instrument;
Duty transferee information form for each transferee on the transfer instrument; and
Transaction information form.
or
Transferee transaction certificate.

original signed and dated transfer instrument.
a copy of the agreements for sale for the former home and new home.
a completed First home buyers of established homes duty concession application.

To submit via Tasmanian Revenue Online, you will need:

a copy of the original signed and dated transfer instrument
a completed First home buyers of established homes duty concession application.
a copy of the agreements for sale for the former home and new home.

How to apply for a refund

To apply for a refund where full duty has been paid:

written request for transaction to be reassessed.
a copy of the original signed and dated transfer instrument.
a copy of the contracts for sale for the former home and new home.
a completed First home buyers of established homes duty concession application.

Additional information

For additional information, refer to:

Back Home