Stamp duty in Tasmania is assessed on a graduated scale relative to the property's purchase price. Here's a breakdown of the rates applicable to residential properties that are intended to be occupied by the owner:

• Up to $3,000: Stamp duty is a flat rate of $50.
• $3,001 - $25,000: Duty is $50 plus $1.75 per $100 over $3,000.
• $25,001 - $75,000: Duty is $435 plus $2.25 per $100 over $25,000.
• $75,001 - $200,000: Duty is $1,560 plus $3.50 per $100 over $75,000.
• $200,000 - $375,000: Duty is $5,935 plus $4.00 per $100 over $200,000.
• $375,000 - $725,000: Duty is $12,935 plus $4.25 per $100 over $375,000.
• Over $725,000: Duty is $27,810 plus $4.50 per $100 over $725,000.

These rates are not applicable to investment properties. First home buyers may be entitled to further concessions.

In Tasmania, a flat transfer fee of $233.18 is charged to register a change in property titles, known as a transfer fee. For those financing their property with a mortgage, a flat mortgage registration fee of $152.19 is also required. These fees are accurate as of July 2023 for the fiscal year 2023-2024.

Yes, Tasmania provides a concession for first home buyers purchasing established properties valued at up to $600,000, offering a 50% reduction in stamp duty. To qualify, the following conditions must be met:

• The home must be an established dwelling.
• The purchase price must be $600,000 or below.
• The purchase must occur between 1 January 2022 and 30 June 2023.
• At least one applicant must be an Australian citizen or permanent resident.
• Applicants must be at least 18 years of age.
• Neither you nor your partner (if applicable) should have previously owned property in Australia.
• The property must become your primary residence for at least six consecutive months within the first year after purchase.
• You must not have received the First Home Owners Grant anywhere in Australia.

A foreign purchaser duty surcharge, which amounts to 8% of the property's value, is levied on foreign owners in Tasmania.

You are not deemed a foreign owner if you are:

• An Australian citizen,
• A permanent resident, or
• A New Zealand citizen with a special category visa.

If a foreign owner is buying property in conjunction with an Australian citizen or permanent resident partner, they may be exempt from the foreign owner duty, provided that the property is an existing dwelling and becomes the primary residence within six months of the transaction. Separate conditions apply for the purchase of vacant land.

Be aware that additional expenses may be incurred beyond this surcharge.