State Budget Update 2019-2020

The Tasmanian Government has today announced the following 2019-20 State Budget measures:

First Home Owner Grant

The $20 000 grant for eligible first home owners – extended to 30 June 2020
The extension is subject to the passage of legislation through the Parliament.
The grant is open to eligible first home owners for the purchase or building of a new home. The extension of the scheme means that the $20 000 payment will be available for eligible applicants and transactions up to and including 30 June 2020. See current details here, or go to: www.sro.tas.gov.au/fhog.

Land Tax

Three-year Land Tax exemption for newly built housing made available for long-term rental – extended to 30 June 2023
The extension is subject to the gazetting of a Ministerial Order.
Provides a three-year land tax exemption for all newly built housing that is made available for long term rental. The exemption will be available for the three financial years after the date that an occupancy certificate is received, as long as it is received between 8 February 2018 and 30 June 2023 inclusive. See current details here, or go to: www.sro.tas.gov.au/landtax.
One-year Land Tax exemption for newly listed rental properties – extended to 30 June 2023
The extension is subject to the gazetting of a Ministerial Order.
Provides a one-year land tax exemption for short-stay accommodation properties that are rented for a minimum term of 12 months commencing within the period 15 March 2018 and 30 June 2023 (inclusive) within Tasmania. See current details here, or go to: www.sro.tas.gov.au/landtax.

Property Transfer Duties

Duty concession for first home buyers of established homes – extended to 30 June 2020
The extension is subject to the gazetting of a Ministerial Order.
Provides a 50 per cent concession on property transfer duty for first home buyers of established homes with a property value of $400 000 or lower. The concession is available for homes that settle (transfers that complete) within the period 7 February 2018 to 30 June 2020 inclusive. See current details here or go to: www.sro.tas.gov.au/duties.
Duty concession for pensioners downsizing to another home – extended to 30 June 2020
The extension is subject to the gazetting of a Ministerial Order.
Provides a 50 per cent property transfer duty concession to eligible pensioners who sell their existing home and downsize to a new home valued at $400 000 (or lower) within

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