Key Points

A Dean Winter Labor government will expand choice for first home buyers and stimulate demand for builders by extending the first home buyer duty exemption to newly built houses.

The stamp duty exemption will:

• help young people buy their first home
• create more demand for newly built homes
• reduce the cost of buying a home

Why we need it

After 11 years of the Liberals, young Tasmanians are shut out of the housing market, building approvals are at record lows, and government policies are making the problem worse.

• Young people fear they’ll never be able to own a home of their own
• Housing approvals are at the lowest level since 2016
• Current government policy actively discourages building new homes

“The current stamp duty exemption for first home buyers only applies to existing homes. It doesn’t make any sense.”

The details

The current stamp duty exemption for first home buyers of established homes will be extended to include newly built houses.

Existing eligibility requirements will continue to apply.

Eligible Tasmanians won't pay stamp duty for any home valued up to $750,000.

The duty exemption will provide up to $28,935 in stamp duty relief on the purchase of both newly built and existing homes.