When purchasing a property, it’s vital you account for the often hefty cost of stamp duty.
Stamp duty is a form of tax that is charged by state and territory governments during the sale and transfer of property purchases. This rate changes between Australian states and territories, and is influenced by the cost and type of a property purchase.
To provide a guide on how much stamp duty you could be charged on your property purchase, we have created a handy Stamp Duty Calculator. This calculator is designed to highlight any stamp duty exemptions or grants you may be eligible for in Tasmania (when the TAS tab is selected along the top of the calculator).
After you’ve tried out our Stamp Duty Calculator, be sure to use our Property Buying Cost Calculator, Loan Comparison Calculator, and Borrowing Power Calculator to help manage your finances when planning a property purchase.
In Tasmania, stamp duty is charged on a sliding scale based on the greater of the property’s market value, or the consideration (that is, the agreed purchase price of the property).
Click the “rates and thresholds” button towards the bottom left of our calculator to see the current stamp duty rates and thresholds for Tasmania. The information within this pop-up menu includes:
The following is a comprehensive breakdown of the information you’re required to enter into our calculator.
The results in this field include:
The total amount of these costs appears next to “total government fees”.
These results reflect any government grants you may be entitled to. The total amount of these grants appears next to “total government grant”.
For further information on how stamp duty could affect you as well as information on any exemptions and concessions, please visit the State Revenue Office of Tasmania.
Our First Home Buyer’s guide helps ease the stress of purchasing a new home, as it simplifies often complicated topics, like the process of applying for a loan, as well as the different types of loans you can take out.
On top of this, our online comparison tool helps you compare a range of home loans from our panel of trusted lenders. This means you can avoid the confusion and wasted time of searching through multiple websites to find value in your home loan. Simply input the required information and compare home loans in just seconds.
The information in this article is accurate as of 2 January 2018.