Navigating Tasmania's Property Market
2 min read
02nd July 2024
Discover what's changing and staying in the Tasmanian property market: land tax and grants
Stay updated on Tasmania's latest tax and grant changes from 1 July 2024! Here's all the latest information directly from the Tasmanian State Revenue Office.
These updates include adjustments to land tax thresholds, extended exemptions for newly-built and rental properties, and extended grants for first-home buyers. Understanding these changes can help you navigate the evolving landscape of Tasmania's property market with confidence
Updated, revised, and continuing measures
The land-value threshold amount at which Land Tax begins being calculated is $125,000.
This takes effect on and from 1 July 2024.
Find out more here!
The existing three-year Land Tax exemption for all newly-built housing made available for
long-term rental is extended two years to 30 June 2026 inclusive.
Find out more here!
The existing one-year Land Tax exemption for short-term visitor accommodation converted
to a long-term rental is extended two years to 30 June 2026 inclusive
Find out more here!
The concession rises from 50% to a 100% exemption for eligible first-home buyers of established
homes valued at up to $750,000 (previously up to $600,000). Applies from 18 February 2024 to 30 June 2026 inclusive.
Find out more here!
For eligible pensioners selling their existing home to downsize to a new home or unit at a lower cost (and valued up to $600,000). Extends to 30 June 2025 inclusive.
Find out more here!
Eligible transactions, commencing from 1 July 2024, will be eligible for the $10,000 Grant.
Find out more here!
Ready to navigate Tasmania's evolving property market with confidence? Contact a Vie Property Finance Advisor today to discuss how these latest updates on tax and grants can benefit you. Whether you're a first-time homebuyer, investor, or looking to optimise your property portfolio, our advisors are here to tailor solutions to your specific needs!