A re-elected Rockliff Liberal Government will abolish millions of dollars in stamp duty costs for young Tasmanians as part of our 2030 Strong Plan for Tasmania’s Future.

“Our Strong Plan for Tasmania’s Future will help more young Tasmanians buy their first home by scrapping stamp duty,” Premier Jeremy Rockliff said.

“Under our Strong Plan, eligible young Tasmanians won’t have to pay a cent of Stamp Duty for any home valued up to $750,000.

“This is a massive doubling of the existing stamp duty discount of 50 per cent, and also a significant increase in the current property value cap of $600,000 to $750,000.

“This will help around an extra 1,500 Tasmanian households into the housing market a year, with huge savings up to $28,935.

“That kind of money can literally make the difference between being able to buy a first home, or not – particularly given the need for a large upfront cash deposit when buying a house.

“Importantly, we will help pay for this with the new short stay levy, which will be paid overwhelmingly by interstate and overseas travellers. Every cent of that levy will go directly to Tasmanian first home buyers.”

Minster for Housing, Nic Street, said:

“Our Government is committed to helping every young Tasmanian to own a home.

“Already, our stamp duty discounts have helped 8,000 young Tasmanians into their first home in the past six years.

“But we know that it isn’t getting easier for young Tasmanians to achieve the Great Australian Dream of home ownership.

“The economic gains that our state has made under our majority Liberal Government has also brought growing pains, including housing supply and affordability challenges.

“That’s why helping singles, couples and families to buy their first home is a key priority of our 2030 Strong Plan for Tasmania.

“We want more young Tasmanians to buy a home here, to build a career here, and raise a family here.

“Only a re-elected majority Liberal Government and our 2030 Strong Plan for Tasmania’s Future will make it easier for Tasmanians to own their own home.”

The Stamping Out Stamp Duty policy is for existing houses, units, and apartments; it will begin immediately, will be open for two years until 30 June 2026 and will then be reviewed subject to prevailing market and economic conditions.

The Short Stay Levy will raise $11 million a year, raising around $44 million over four years. The Stamping out Stamp Duty will cost an estimated $64.3 million over two years, meaning an estimated net policy cost to the budget of $20.3 million.