STATE GOVERNMENT
STAMP OUT STAMP DUTY

It is a fact that almost every capital city and rest of the state region in Australia has seen an increase in vendor activity in the housing market relative to a year ago, except Hobart (-2.4%) where overall stock levels have been high for several years and values have recorded a substantial downturn since peaking in March 2022, according to Corelogic.

For a while now, the Aussie dream of owning your own home has been out of reach for far too many Tasmanians.

State Premier Jeremy Rockliff has now confirmed that the State Government has removed stamp duty costs.

"Stamp duty remains one of the biggest costs that home buyers are hit with when buying a home," said Mr Rockliff. And for first home buyers, it is an even bigger hit when they are struggling to raise the deposit on their first home.

"Along with delivering 10,000 homes and helping bring more supply online, we are Stamping Out Stamp Duty for eligible first-home buyers. This will mean savings of up to $28,935 for eligible Tasmanians!" The Premier announced.

Plus it is not only first home buyers who will benefit!

Mr Rockliff also stated, "For those looking to downsize, the government is slashing stamp duty by 50% for eligible Tasmanians who buy a new apartment or unit off the plan, or under construction, up to the value of $750,000".

If you want to know more about the savings, check out the new Stamp Duty Calculator HERE!. Simply follow the link to get more info.

Now if you have literally just purchased your new home, don't start swearing at the computer quite yet... because you haven't missed out. This great initiative has been backdated to February 18, when it was first mooted.

At Hills Accounting we like to keep you up-to-date with the latest news.

For more information, email us today at admin@hillsaccounting.com.au or call us on 03 62737800