A strong performing property market is welcome news for Tasmania’s economy, but it is important that all Tasmanians can afford to buy a home that meets their needs.
The 2019-20 State Budget is focused on maintaining the momentum in Tasmania’s nation leading building and construction sector to help more Tasmanians into a home of their own.
To assist Tasmanians into their first home, the 2019-20 State Budget extends the successful first homebuilders grant for an additional 12 months to 30 June 2020.
In addition, the 2019-20 State Budget extends a range of the Hodgman Liberal Government’s successful housing affordability programs, including;
- The First Home Owners Duty Concession of up to $7,000 on established homes until 30 June 2020,
- The Duty Concession of up to $7,000 for pensioners downsizing their home until 30 June 2020,
- The Land Tax Exemption for former short stay accommodation properties that are converted to long term rental until 30 June 2023, and
- The Land Tax Exemption for newly built housing made available for long-term rental until 30 June 2023.
There is no doubt that the attractiveness of Tasmania as a place to live and work is driving strong demand in Tasmania’s property market.
While great strides have been made in increasing the supply of housing, we know there is more to do.
That’s why the Hodgman Liberal Government remains committed to helping more Tasmanians buy a home of their own, as well as improving the supply of affordable rental housing.