A re-elected majority Liberal Government will take the axe to land tax, putting more money in the pockets of Tasmanians, and supporting shackies and mum and dad investors.

Already, we have announced that as part of our 2030 Strong Plan we will abolish land tax for three years when a newly built home is made available for rent, and zero land tax for a year when a short-term rental is switched to a long-term rental.

“Today, I’m pleased to announce that we are taking the axe to land tax,” Premier Jeremy Rockliff said.

“We will raise the tax-free threshold for land tax by $25,000, to $125,000.

“This means that if we are re-elected, 4,400 Tasmanians will no longer receive a land tax bill.

“Those who are still subject to land tax won’t miss out either, they will receive a saving of $113 on their bill.

“This is a great hip-pocket saving for mum and dad investors with properties on the long-term rental market, and for Tasmanians with a family shack.

“The Liberals are the party of lower taxes. We have a strong track record of land tax relief and have now cut it three times in three years.

“We recognise that there has been strong growth in Tasmania’s property value due to the strong economy we have developed. That’s why we doubled the tax-free threshold from $25,000 to $50,000 in 2021 and doubled it again from $50,000 to $100,00 in 2022.

“Our responsible action has delivered tax relief to nearly 70,000 property owners of up to $800 a year since 2021. Tasmanians can always trust the Liberals to deliver lower taxes.”

The Treasurer, Michael Ferguson, said new land tax added to the many initiatives targeted at helping Tasmanians into their own home or a rental.

“We understand the importance of having a place to call home, whether that’s a rental or your own place,” Minister Ferguson said.

“That’s why we’ve announced several key initiatives, from stamping out stamp duty for first-home buyers, to 100 per cent land tax exemptions for property owners who list their homes for rent, and stamp duty relief when you buy an apartment off the plan.

“This latest increase in the tax-free threshold is just another incentive to encourage more Tasmanians to invest in a second property, like a long-term rental.

“Every incentive helps, and we will continue to do everything we can to cut taxes and unlock more rentals. In contrast, Labor won’t rule out increasing taxes to pay for their almost $800 million in un-costed, unfunded promises.”

The total cost of this policy is $29.2 million.