Duty for pensioners downsizing to a new home

A 50% duty concession for eligible pensioners who sell their existing home and downsize to a new home is available where the property:

• Being acquired has a property value of $400,000 or lower and the purchase of their new home completes between 10 February 2018 and 15 March 2021.

Or

• The purchase of their new home completes between 16 March 2021 and 31 December 2021 inclusive and the property being acquired has a property value of $500,000 or lower.

Or

• The purchase of their new home completes between 1 January 2022 and 30 June 2025 inclusive and the property being acquired has a property value of $600,000 or lower.
• The value of the new property is less than that of the property being sold. Specific conditions apply to this concession, including that the purchaser must occupy the new property as their principal place of residence.

For more information:

Department of Treasury and Finance
Phone: 6166 4400 or 1800 001 388
Email: dutyhelp@treasury.tas.gov.au
Web: www.sro.tas.gov.au