Tasmanian Government Taxation Measures and the Extension of the First Home Owner Grant

Tasmanian Government Taxation Measures and the Extension of the First Home Owner Grant

 

On 15 June 2018, the Tasmanian Government introduced the extension of the First Home Owner Grant (FHOG) as well as new Duties, Land Tax, and Payroll taxation measures.

A Bill setting out all measures passed both houses of Parliament (with an amendment to apply statewide the one-year land tax exemption for newly listed short-stay rental properties made available for longer-term rental accommodation). The Bill received Royal Assent on 29 June.

An updated summary of the measures has been published with links to issue-specific factsheets. In turn, these host links to forms or other information where relevant.

 

The issue-specific factsheets for the following measures have been amended:

  1. Duty concession for first home buyers of established homes: for clarity it includes a note that the concession is not available for applicants entitled to the First Home Owner Grant for newly built homes - the factsheet also includes an application form;
  2. Duty concession for pensioners selling their existing home to downsize to another property: the factsheet includes an application form;
  3. Foreign Investor Duty Surcharge: includes forms to assist persons or companies satisfy Tasmanian Revenue Online Agents or the Commissioner of State Revenue whether or not they are a foreign investor; 
  4. Extension of the First Home Owner Grant: notes that applicants for the FHOG are not eligible for the Duty Concession for first home buyers of established homes.
  5. One-year land tax exemption for newly listed rental properties: the measure applies statewide.

 

For more information, please read the updated summary factsheet here.