The state government has backed up its 'Stamping Out Stamp Duty' policy for first home buyers, which will be backdated to February 18, and launched its new stamp duty calculator.
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The Liberal government announced on February 18, 2024, that they would abolish stamp duty for first-home buyers, and those who bought a home after that date will be eligible to have their stamp duty removed.
A new calculator will allow Tasmanians to see how much they can save after the state government tabled legislation in Parliament.
Treasurer Michael Ferguson and his colleague Rob Fairs on Sunday stood alongside a young couple who had just purchased their first home in Launceston.
"We're standing in the yard of that wonderful new future they have in front of them, and as the Liberal government, we're absolutely determined to do everything possible," Mr Ferguson said.
"Not just to generate and stimulate new supply and bring new supply on board for our growing population, but also to support Tasmanians, particularly those who have not owned a home in the past."
The Treasurer said his government made home ownership a central theme of what they hope to deliver in this next term of office.
New homeowners Patrick Illingworth, 25, and Grace Burden, 22, are just one couple able to benefit from the Tasmanian Liberal Government's Stamping Out Stamp Duty policy.
Ms Burden said the new state government policy did help the couple decide to purchase their new home.
"We weren't thinking about buying a home for another month or two because the stamp duty was relatively high, and it's a considerable amount of money," she said.
"But the concession coming in allowed us to have extra funds.
"It means we can keep saving to be able to renovate the house or do other things that we want to do, and it allows us to get a foot in the door [on the property market] as well.
Mr Illingworth said:
"It's great to have that stability and that there are no more lease inspections or the potential of being asked to move out at the end of the lease."
'Best possible chance at home ownership'
Mr Ferguson said these stamp duty discounts are about giving Tasmanians the best possible chance at home ownership.
"Over the past decade, Tasmania has gone through an unprecedented period of economic and population growth, and this has had an impact on our housing market," he said.
"It has seen house prices continue to climb - and push what is considered the 'Great Australian Dream' of home ownership out of reach for young Tasmanians.
"Our government is proudly taking action on this, and we will introduce to parliament several measures which will either stamp out stamp duty for first home buyers or slash stamp duty by 50 per cent on new apartments.
"Many Tasmanians will be wondering what savings are on offer for them - our brand new stamp duty calculator is going to make that easier than ever.
"Launched May 26, 2024, Tasmanians can hop on and by providing a few easy details understand how our 2030 Strong Plan for Tasmania's Future is going to save them potentially tens of thousands of dollars."
Tasmanians can visit the 'Stamp Out Stamp Duty' website to find out how much the policy could save them.
Hugh Bohane
Journalist at The Examiner, covering breaking news, community news, crime and court. Got a story? I'd like to hear it: hugh.bohane@austcommunitymedia.com.au. Formerly a freelance correspondent and Griffith Uni graduate.
Journalist at The Examiner, covering breaking news, community news, crime and court. Got a story? I'd like to hear it: hugh.bohane@austcommunitymedia.com.au. Formerly a freelance correspondent and Griffith Uni graduate.
