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Australian Stamp Duty Guide

Comprehensive stamp duty information for all Australian states and territories. Select your state below to view specific rates, concessions, and eligibility requirements.

Tasmania Property Transfer Duty Calculation Guide

Basic Calculation Framework

Property transfer duty (commonly known as stamp duty) in Tasmania is calculated based on either the property's sale price or its current market value, whichever is higher. This is known as the dutiable value.

  • Duty is payable within three months of the dutiable transaction (usually settlement) and must be paid by the transferee (the purchaser)
  • Your solicitor or conveyancer typically handles the payment process and lodgement on your behalf
  • Interest charges apply to late payments

Standard Property Transfer Duty Rates (Current as of 2024)

Tasmania uses a progressive rate structure based on property value. The current rates have been in place since 21 October 2013.

Property ValueTransfer Duty Calculation
Up to $3,000$50
$3,001 to $25,000$50 plus $1.75 for every $100 over $3,000
$25,001 to $75,000$435 plus $2.25 per $100 over $25,000
$75,001 to $200,000$1,560 plus $3.50 per $100 over $75,000
$200,001 to $375,000$5,935 plus $4.00 per $100 over $200,000
$375,001 to $725,000$12,935 plus $4.25 per $100 over $375,000
Over $725,000$27,810 plus $4.50 per $100 over $725,000

Example calculation: For a $500,000 property, transfer duty would be $12,935 plus $5,312.50 (4.25% of $125,000 over $375,000) = $18,247.50

First Home Buyer Duty Exemption (Major Changes from 2024)

In June 2024, the Tasmanian government introduced a complete stamp duty exemption for eligible first home buyers purchasing established homes, representing a significant shift from the previous 50% concession.

Current Exemption (18 Feb 2024 - 30 June 2026)

  • • Full stamp duty exemption for established homes
  • • Properties valued up to $750,000
  • • Potential savings of up to $29,000+ on eligible properties
  • • Applies retrospectively from 18 February 2024

Previous System (7 Feb 2018 - 17 Feb 2024)

  • • 50% concession on transfer duty
  • • Tiered value caps: $400k (to Mar 2021), $500k (Mar-Dec 2021), $600k (Jan 2022-Feb 2024)
  • • Applied to established homes up to relevant cap

Eligibility Requirements

  • Must be a natural person (not a company) and at least 18 years old
  • Must be an Australian citizen or permanent resident (at least one applicant if multiple buyers)
  • Neither you nor your spouse/partner may have previously owned property in Australia
  • Neither you nor your spouse/partner may have previously received a FHOG, duty concession or exemption under the Duties Act
  • Purchase must be of an established dwelling valued at or below the relevant cap ($750,000 for current period)
  • Must occupy as principal place of residence for 6 continuous months within 12 months of transfer
  • Commissioner's discretion may vary the residence requirement in exceptional cases

Refund Process

If you purchased a property on or after 18 February 2024 as an eligible first home buyer and paid the previous 50% duty, you may be entitled to a refund. Applications can be submitted through the Tasmanian Revenue Online system.

Foreign Investor Duty Surcharge (FIDS)

Foreign persons acquiring residential or primary production property in Tasmania must pay an additional surcharge on top of standard transfer duty (rates effective from 1 April 2020).

Residential Property

  • • 8% of dutiable value
  • • Applies to all residential property acquisitions
  • • Includes vacant land for residential development

Primary Production Property

  • • 1.5% of dutiable value
  • • Applies to farm land and agricultural property
  • • Lower rate than residential property

FIDS Exemptions (Sections 30J & 30K)

  • Principal residence exemption: Existing dwelling, used within 6 months as principal residence, held in equal shares by partners, where only one party is foreign
  • Vacant-land refund: Available on application if vacant land purchased and dwelling built and occupied as principal residence within 2 years, held in equal shares by partners where only one party is foreign

Example: A foreign investor purchasing a $500,000 residential property would pay $18,247.50 in standard duty PLUS $40,000 FIDS (8% of $500,000) = $58,247.50 total

Standard Exemptions and Concessions

Personal Relationship Exemptions

  • Full exemption for transfers of principal place of residence between married couples or de facto partners
  • Applies to current relationships and relationship breakdown situations
  • Documentary evidence required to support exemption claim

Pensioner Downsize Concession

50% concession for eligible pensioners selling their existing home and downsizing to an established home.

Value caps for new home (must be lower value than former home):

  • ≤ $400,000 up to 15 March 2021
  • ≤ $500,000 from 16 March 2021 – 31 December 2021
  • ≤ $600,000 from 1 January 2022 – 30 June 2025

Eligibility requirements:

  • Sell former home between 10 February 2018 – 30 June 2025 inclusive
  • Purchase of new home must transfer within 6 months before or after the sale date
  • Must be aged 60+ and hold one of: Pensioner Concession Card, DVA special-rate pension or Commonwealth Seniors Health Card
  • Occupied former home ≥ 6 months; intend to occupy new home ≥ 6 months
  • New home ≤ value of former home; same ownership names

Additional Concessions and Exemptions

  • Off-the-plan apartment/unit concession: 50% concession for new apartments/units valued ≤ $750,000
  • Intergenerational rural transfer (family farm) exemption: Family farm transfers between eligible family members
  • Corporate reconstruction & consolidation exemption: Qualifying corporate restructuring transactions
  • Personal relationship duty exemption: Transfers under the Relationships Act
  • Wills & estates concession: Deceased estate transfers under Section 47 (transfers under will or intestacy rules)

Payment Process and Additional Costs

Payment Requirements

  • Duty must be paid within 3 months of settlement or the date of the dutiable transaction
  • Payment methods: BPAY, credit card, electronic funds transfer, direct debit, Service Tasmania
  • Most conveyancers/solicitors handle payment on your behalf
  • Interest charges apply to late payments

LTO Registration Fees (effective 1 July 2024)

  • Transfer (including assent/power of sale): $244.97
  • Mortgage (including first mortgage instrument): $159.88
  • Other registration fees may apply depending on property type

Professional Services (Typical Estimates)

  • Conveyancer/solicitor fees: typically $1,200-$2,500 (varies by provider)
  • Building and pest inspections: $300-$800 (varies by provider)
  • Property valuation fees: $300-$800 (varies by provider)

Important Notes and Considerations

Property Valuation

Duty is calculated on the higher of the purchase price or market value. For related party transfers or gifts, professional valuation may be required.

Record Keeping

  • Keep all records for at least 5 years after settlement
  • Refunds available up to 5 years if eligible concession not claimed
  • Penalties apply for incorrect or misleading information

Online Calculator

Always use the SRO online duty calculator (TRO) for precise estimates based on your specific circumstances before settlement.

References:

Important Disclaimer

  • This information is provided for general guidance purposes only
  • Stamp duty rates and regulations change frequently - always verify current rates with official sources
  • Individual circumstances may significantly affect calculations and eligibility for concessions
  • Calculations may be complex and individual factors may affect the final amount payable
  • Always consult with qualified professionals such as solicitors, conveyancers, or financial advisers for advice specific to your situation
  • Use official government calculators for precise duty estimates