If you’re buying property in Tasmania, stamp duty is an added cost you’ll have to account for in your budget. But how much do you need to save to cover the cost of stamp duty? Easy, simply plug your numbers into the calculator and we’ll work it out for you in a flash.
Calculations valid for 2020-2021 financial year
Includes duty discounts for first home buyers but does not include state or federal grants
Some states may give further discounts or exemptions in certain circumstances
What next?
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Home loan comparisons on Mozo - rates updated daily
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$1234
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$1,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Booster Home Loan
2.34% p.a. variable
2.34% p.a.
$1234
Owner Occupier, Principal & Interest
2.34% p.a. variable
2.34% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
2.34% p.a. variable
2.34% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
2.19% p.a. variable
2.19% p.a.
$1234
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a. variable
2.19% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
2.19% p.a. variable
2.19% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
60.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
2.04% p.a.
fixed 2 years
2.79% p.a.
$1234
Owner Occupier, LVR <80%, 300k+
2.04% p.a.
fixed 2 years
2.79% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
2.04% p.a.
fixed 2 years
2.79% p.a.
$450
$10.00 monthly
$350.00
yes - up to $10,000 per annum
no
no
$450
80.00%
$300,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback for new borrowings of at least $300,000 with applications made by 22 Jan 2021 and settled by 23 April 2021.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
2.09% p.a.
fixed 2 years
2.56% p.a.
$1234
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
2.09% p.a.
fixed 2 years
2.56% p.a.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
2.09% p.a.
fixed 2 years
2.56% p.a.
$0
$0.00
$400.00
yes - free
yes - free
no
$0
80.00%
$150,000
$750,000
Fixed
Principal & Interest
Owner Occupier
Monthly
Read our Mozo Review to learn more about the Basic Home Loan
1.89% p.a.
fixed 2 years
2.94% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years
2.94% p.a.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
1.89% p.a.
fixed 2 years
2.94% p.a.
$0
$375.00 yearly
$350.00
yes - free up to $500 per month
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
2.19% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <60%
2.19% p.a. variable
2.20% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
2.19% p.a. variable
2.20% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
60.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
2.17% p.a. variable
2.20% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a. variable
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
2.17% p.a. variable
2.20% p.a.
$785
$0.00
$300.00
yes - free
yes - free
Optional - $10 per month
$785
80.00%
$200,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Well Balanced
2.29% p.a.
fixed 4 years
3.62% p.a.
$1234
Owner Occupier, Principal & Interest, Home Loan Package
2.29% p.a.
fixed 4 years
3.62% p.a.
A People’s Choice 4 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
A People’s Choice 4 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
2.29% p.a.
fixed 4 years
3.62% p.a.
$0
$395.00 yearly
$350.00
yes - free up to $10,000 p.a
no
no
$0
95.00%
$100,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Hot Deal $3,000 cashback when you refinance your home loan to BOQ until 26 February 21
1.99% p.a.
fixed 4 years
2.90% p.a.
$1234
Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.
fixed 4 years
2.90% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
1.99% p.a.
fixed 4 years
2.90% p.a.
$450
$10.00 monthly
$350.00
yes - free up to $5,000 p.a
no
no
$450
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 26 February 2021, settle by 28 May 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
1.95% p.a.
fixed 3 years
2.27% p.a.
$1234
Owner Occupier, Principal & Interest
1.95% p.a.
fixed 3 years
2.27% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
1.95% p.a.
fixed 3 years
2.27% p.a.
$395
$0.00
$0.00
yes - free up to $20,000 p.a.
no
no
$395
80.00%
$100,000
$2,000,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$395 Establishment fee waived for fixed rate loans that settle by 31 March 2020.
Read our Mozo Review to learn more about the UHomeLoan
2.19% p.a.
fixed 3 years
2.68% p.a.
$1234
Owner Occupier, Principal & Interest, LVR<80%
2.19% p.a.
fixed 3 years
2.68% p.a.
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
Competitive fixed rates ranging from 2.19% (2.68% comparison rate*) across 1 to 5 year terms. No application fee or annual fee. Free extra repayments (up to $10,000 per year).
2.19% p.a.
fixed 3 years
2.68% p.a.
$0
$0.00
$275.00
yes - free up to $10,000 p.a.
no
no
$0
80.00%
$150,000
-
Fixed
Principal & Interest
Owner Occupier
Monthly, Fortnightly, Weekly
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Hot Deal Special rate applies to home loan applications submitted by 28 February 2021
2.09% p.a. variable
2.12% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <70%
2.09% p.a. variable
2.12% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.09% p.a. variable
2.12% p.a.
$835
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$835
70.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 28 February 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
2.59% p.a. variable
2.63% p.a.
$1234
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.63% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
2.59% p.a. variable
2.63% p.a.
$0
$0.00
$0.00
yes - free
yes - fees apply
yes - partial only
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$2,000 cashback when you refinance your home loan from another financial institution when you apply by 28 February 2021 and are funded by 30 April 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Real Deal Home Loan
Hot Deal Victoria Customers Only
2.33% p.a.variable for 24 months and then 3.82% p.a. variable
3.71% p.a.
$1234
Owner Occupier, Principal & Interest
2.33% p.a.variable for 24 months and then 3.82% p.a. variable
3.71% p.a.
GMCU Basic Variable Special Offer 2.33% (3.71% comparison rate) intro variable rate for 24 months. Offset account, extra repayments and redraw facility available. Victoria customers only.
GMCU Basic Variable Special Offer 2.33% (3.71% comparison rate) intro variable rate for 24 months. Offset account, extra repayments and redraw facility available. Victoria customers only.
2.33% p.a.variable for 24 months and then 3.82% p.a. variable
3.71% p.a.
$0
$8.00 monthly
$150.00
yes - free
yes - fees apply
yes
$0
80.00%
$50,000
-
Variable
Principal & Interest
Owner Occupier
$2,000 cash back for First Home Buyers with new borrowings $150k - $500k to those eligible for the Victorian Government First Home Owner Grant or First Home Buyer Duty Reduction Loan. Applications made by 30 Nov 2020, funded by 31 May 2021.
Read our Mozo Review to learn more about the Basic Variable Special Offer Plus
2.54% p.a. variable
2.55% p.a.
$1234
LVR<80%, Owner Occupier, Principal & Interest
2.54% p.a. variable
2.55% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
2.54% p.a. variable
2.55% p.a.
$0
$0.00
$350.00
Yes - free
yes - free
no
$0
80.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Back to Basics Special
2.49% p.a. variable
2.49% p.a.
$1234
LVR<80%, Owner Occupier, Principal and Interest, >$150k
2.49% p.a. variable
2.49% p.a.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
2.49% p.a. variable
2.49% p.a.
$0
$0.00
$350.00
yes - free
yes - free
no
$0
80.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Basic Variable Home Loan
2.29% p.a. variable
2.23% p.a.
$1234
70-80% LVR, Owner Occupier, Principal & Interest
2.29% p.a. variable
2.23% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
2.29% p.a. variable
2.23% p.a.
$0
$0.00
$0.00
yes - free
yes - free
no
$0
80.00%
$100,000
$2,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Liberate Variable Home Loan
2.34% p.a. variable
2.35% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.34% p.a. variable
2.35% p.a.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
2.34% p.a. variable
2.35% p.a.
$250
$0.00
$300.00
yes - free
yes - free
no
$250
80.00%
$80,000
$5,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Neat Home Loan
Hot Deal $3,000 cashback when you refinance your home loan to BOQ until 26 February 21
2.59% p.a. variable
2.76% p.a.
$1234
Owner Occupier, Principal & Interest, <70% LVR
2.59% p.a. variable
2.76% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
2.59% p.a. variable
2.76% p.a.
$450
$10.00 monthly
$320.00
yes - free
yes
no
$450
70.00%
$150,000
-
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 26 February 2021, settle by 28 May 2021.
Read our Mozo Review to learn more about the Economy Variable Home Loan
1.88% p.a.
fixed 2 years
2.98% p.a.
$1234
Owner Occupier, Principal & Interest, LVR <80%
1.88% p.a.
fixed 2 years
2.98% p.a.
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Includes an HSBC Premier Master Card with HSBC rewards and no annual credit card fee allowing you to earn points. Mozo Experts Choice Fixed Home Loan 2020 winner^
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Includes an HSBC Premier Master Card with HSBC rewards and no annual credit card fee allowing you to earn points. Mozo Experts Choice Fixed Home Loan 2020 winner^
1.88% p.a.
fixed 2 years
2.98% p.a.
$270
$390.00 yearly
$300.00
yes - free up to $10,000 p.a.
no
no
$270
80.00%
$500,000
$7,500,000
Fixed
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Fixed Rate Home Loan
2.48% p.a. variable
2.50% p.a.
$1234
Owner Occupier, Principal & Interest
2.48% p.a. variable
2.50% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
2.48% p.a. variable
2.50% p.a.
$520
$0.00
$0.00
yes - free
yes - free
Optional - with 0.10% additional interest
$520
80.00%
$50,000
$1,000,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Read our Mozo Review to learn more about the Smart Home Loan 80
2.29% p.a. variable
2.32% p.a.
$1234
Owner Occupier, Principal & Interest, LVR 70-80%
2.29% p.a. variable
2.32% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 28 February 2021.
2.29% p.a. variable
2.32% p.a.
$835
$0.00
$500.00
yes - free
yes - free
Optional - $10 per month
$835
80.00%
$150,000
$1,500,000
Variable
Principal & Interest
Owner Occupier
Weekly, Fortnightly, Monthly
Special rate applies to home loan applications submitted by 28 February 2021.
Read our Mozo Review to learn more about the Variable Home Loan Special
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
If you want to know a little more about how stamp duty in Tasmania works, we’ve pulled together a list of frequently asked questions so that you can understand the ins and outs of this tax and when you will need to pay it.
You’re already dropping a bundle of money on buying a home - why do you then need to pay more for stamp duty?
Well, stamp duty is a tax designed primarily to cover the cost of the legal documents involved in buying and selling property - mainly changing the ownership title and searching to ensure that you’re buying the property from the legal owner.
When you use our calculator to work out the cost of your Tasmania stamp duty, your results are broken down into a few different components which make up the total cost commonly thought of as stamp duty. These include:
Each state has different rates for calculating stamp duty, based on the value of the property you’re buying. Here’s a breakdown of the different cost tiers for stamp duty in Tasmania, for properties bought after October 2013:
Source: State Revenue Office of Tasmania, Rates of Duty
Seem complicated? That’s why we’ve built the calculator above, so you don’t have to crunch these numbers yourself.
Stamp duty is charged by sate governments, which means the cost and the fineprint varies from state to state. We’ve built dedicated calculators for each state to make calculating stamp duty easy for all Aussies.
In many states stamp duty is also now known by different names, like “land transfer duty”. In Tasmania, it’s now simply called Duty.
You can pay your Transfer Duty through the Tasmanian Revenue Online website, by sending your documents via post, or in person at the Tasmanian Revenue Office.
There are a range of documents and forms you need to lodge, along with a cheque for the stamp duty amount you owe if you’re paying in person or via post. Once your payment is approved, your stamped documents will be returned to you so you can keep them for your records.
In Tasmania, you’ll need to pay stamp duty within 3 months of purchasing a property. If you don’t pay within this timeframe, you can wind up being hit with penalties or interest so it’s important to make sure that you have everything in order before signing on the dotted line.
In Tasmania, some first home owners can score stamp duty concessions to help them get a foot in the market. If you're buying an existing home worth $400,000 or less, it's worth looking into whether you're eligible for this concession.
First home buyers may also be able to score a land tax exemption, a first home owners grant, or jump on board with the Federal Government’s First Home Super Saver Scheme.
First home buyers don't get all the help! There are a couple of other circumstances under which you might be able to claim a concession on your Tasmanian stamp duty.
Generally speaking, no, you aren’t able to cover your stamp duty costs with a personal loan. However, if you haven’t budgeted to pay stamp duty upfront, you’re not stuck. You may be able to take the cost of your stamp duty out of your home loan deposit - just remember that this will affect your loan-to-value ratio (LVR), as you’ll be borrowing more money.
One thing to keep in mind is that if you’re using a portion of your Tassie home deposit to pay stamp duty and your LVR winds up being higher than 80%, you’ll also wind up paying Lenders Mortgage Insurance, which could add another few thousand dollars to your bill.
When you’re heading across state lines to buy a property - whether you’re moving to Tasmania yourself or jumping on an investment opportunity - you may be a little confused about the how stamp duty applies. Basically, if you’re buying a property in Tasmania, then the stamp duty rates and rules of Tasmania apply, no matter which state you’re from.
Yes, people buying a home in Tasmania from overseas will pay duty. Overseas buyers will also have to budget for an additional tax of 3% of the property duty when buying in Tasmania.
It’s important to be aware of the effect stamp duty can have on your budget, but don’t forget to plan for the other costs of buying a home! Along with the sale price of your house, you’ll need to consider other costs involved with a property purchase and a home loan, including:
From stamp duty to legal fees, there are a number of things you’ll need to save for when purchasing your first home in Tasmania. So when the time comes to choose a home loan, why not choose an offer that’ll help you save over the long term? That’s where our Home Loans Interest Rates page comes in handy. It can help you compare a range of interest rates from different lenders to potentially find the right option for you