First home buyers of established homes duty concession
25 May 2023 - The duty concession for first home buyers of established homes is extended to 30 June 2024. Subscribe to the SRO Email Service to receive updated details once they become available.
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).
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.
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:
To submit by mail, you will need:
To submit via Tasmanian Revenue Online, you will need:
How to apply for a refund
To apply for a refund where full duty has been paid:
For additional information, refer to: