When you buy a property in Australia, you'll normally pay a state government tax known as stamp duty. In Tasmania, this is called property transfer duty, and it's payable whenever you acquire an interest in a property.
Transfer duty can cost you thousands or tens of thousands of dollars. Eligible Tasmanian first home buyers and pensioners can get 50% discounts, depending on eligibility criteria and the value of the property.
Property transfer duty in Tasmania is calculated based on either the price you have paid for the property, including GST, or the unencumbered value of the property, whichever is higher. Usually, if you purchase the property on the open market, the price you agree to pay is what is used to calculate your stamp duty.
Property transfer duty is calculated on a sliding scale ranging from 1.75% up to 4.5%, rather than a set percentage, as described in the table below:
| Property value | Conveyance duty payable |
|---|---|
| Up to $3,000 | $50 |
| Between $3,000 and $25,000 | $50, plus $1.75 for every $100 over $3,000 |
| Between $25,000 and $75,000 | $435, plus $2.25 for every $100 over $25,000 |
| Between $75,000 and $200,000 | $1,560, plus $3.50 for every $100 over $75,000 |
| Between $200,000 and $375,000 | $5,935, plus $4.00 for every $100 over $200,000 |
| Between $375,000 and $725,000 | $12,935, plus $4.25 for every $100 over $375,000 |
| More than $725,000 | $27,810, plus $4.50 for every $100 over $725,000 |
Source: State Revenue Office of Tasmania
You can use Finder's stamp duty calculator to estimate your transfer duty costs. Just set the state to TAS before entering your details. Note that this is just an estimate and may not reflect your actual costs.
| Response | 75+ yrs | 65-74 yrs | 55-64 yrs | 45-54 yrs | 35-44 yrs | 25-34 yrs | 18-24 yrs |
|---|---|---|---|---|---|---|---|
| Getting approved for a loan with a good interest rate | 27.91% | 24.22% | 24.56% | 22.71% | 26.77% | 23.3% | 32.86% |
| The deposit | 27.91% | 39.13% | 44.44% | 46.86% | 44.09% | 40.78% | 25.71% |
| Getting a loan without typical employment | 18.6% | 11.18% | 8.19% | 8.7% | 4.72% | 12.14% | 12.86% |
| Nothing - I do not think there are hurdles | 16.28% | 13.66% | 5.26% | 5.8% | 3.94% | 1.94% | 2.86% |
| Finding the right property | 6.98% | 6.83% | 12.87% | 12.56% | 17.72% | 17.48% | 20% |
| Previous debts | 2.33% | 3.73% | 4.09% | 2.42% | 1.97% | 4.37% | 5.71% |
| Other | 1.24% | 0.58% | 0.97% | 0.79% |
First home buyers are eligible for a 50% concession on property transfer duty when they buy an established home valued at $600,000 or less.
To qualify, the buyer must occupy the home as their principal place of residence for a continuous period of six months, beginning within 12 months of the transfer. When purchasing as a couple, both parties need to be first-time buyers in order to receive the concession.
Pensioners can also receive a 50% concession when they downsize to a new home. Like the first home buyer concession, this discount only applies if the property is valued at $600,000 or less.
Ben and Jacinta are buying a home in Hobart, valued at $695,000. Neither of them has owned a property before, so they're eligible for the first home buyer concession. Instead of paying $26,535 in property transfer duty, they will only need to pay $13,267.50.
Property transfer duty is payable within three months of your property purchase, and needs to be paid to the State Revenue Office (SRO). Many buyers pay their transfer duty at settlement.
You (or more likely your conveyancer) will need to lodge the required documents, such as the agreement for sale and transfer instrument, with the SRO either in person, by mail or online. You can pay when you lodge, using the SRO's Property Transfer Duty Calculator to estimate how much you owe, or wait for the SRO to send you an assessment.
The documents you lodge need to include a duty lodgement cover sheet, which is available to download from the SRO website.
Everything you need to know about stamp duty in the NT and how it’s calculated.
Here’s everything you need to know about stamp duty in South Australia and how it’s calculated.
Everything you need to know about stamp duty in Queensland and how it’s calculated.
Everything you need to know about stamp duty in the ACT and how it’s calculated.
Everything you need to know about how much stamp duty you'll pay when you buy a home in Western Australia.
Your complete guide to stamp duty in Victoria, including new discounts that could save homebuyers up to $27,500.
Stamp duty is just one of the many costs associated with property ownership. Learn everything you need to know about transfer duty in NSW.