Tasmanian state election 2018: Stamp duty pledge for first-home buyers

A RE-ELECTED Liberal Government would give first-home buyers a 50 per cent discount on stamp duty, Premier Will Hodgman says. SEE THE VIDEO

A RE-ELECTED Liberal Government would give first-home buyers a 50 per cent discount on stamp duty, Premier Will Hodgman says.

On the campaign trail at Lewisham, south of Sorell, Mr Hodgman said the discount would last for 12 months and would save first-home buyers up to $7000.

The discount would apply for house purchases of up to $400,000 and will cost the state budget around $8 million.

Mr Hodgman said the policy was intended to help young people who were struggling to save for a deposit to buy their first home in the state’s buoyant housing market.

“It is targeted to those who are purchasing properties under $400,000,” he said.

“The median house price in Tassie is around $327,000. So we are deliberately targeting a group who who struggle.

“We want to provide a significant discount and a hand up for Tasmanians to assist with their stamp duty bill so they can better spend that on moving into their new home.”

From left, real estate agent Vlad Gala, Liberal MP Jacquie Petrusma, Premier Will Hodgman and Liberal Lyons candidate Jane Howlett in Lewisham for the announcement of a stamp duty cut for first-home buyers. Picture: SAM ROSEWARNE

Property Council of Australia executive director Brian Wightman welcomed the announcement.

“In almost every review of taxation conducted throughout Australia, stamp duty has been recognised as the most inefficient of all taxes,” he said.

“It increases the cost of business, decreases competitiveness, and makes new residential developments less affordable than existing housing,” he said.

Education Minister Jeremy Rockliff annouced a re-elected Liberal government would spend $7 million on a trades and water centre of excellence at Clarence TAFE that would deliver training in the plumbing, electrical, automotive, plastics, refrigeration and air-conditioning trades.

The Liberals have also promised $705,000 in funding over three years for the men’s sheds network.