The state government has reaffirmed its plan to 'stamp out stamp duty' when the First Home Owner grant ends in June. Video by Aaron Smith (12/4/24)
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00:00 The commitment of stamping out stamp duty will support around 1500 Tasmanians or more
00:07 to the price of a house of around $750,000 or $2750,000 with a saving potentially of up to
00:18 $28,950. So a significant saving that can support young people, but only with their first home,
00:30 and realising the great Australian dream, but that stamp duty that otherwise would have been
00:34 spent can now be invested back into the property or whichever the young people or the person
00:43 decides. We do emphasise, don't we, for first home buyers, the younger generation and that's
00:50 absolutely at the core of this, but we also recognise that there are people of all ages
00:54 that may not have owned a home before and they'll equally be eligible for this policy,
00:58 but by far and away that demographic of our community that will benefit from this policy
01:02 the most are a younger generation. We've recognised the housing pressures in Tasmania with a growing
01:08 state, a growing economy and a growing population. House prices have increased. One thing that the
01:13 State Government is able to do is this policy stamping out stamp duty. We've introduced this
01:18 as part of our 100-day plan. We committed to that on the 22nd of March and here we are delivering.
01:25 Buyers can have the confidence and when they're speaking with their real estate agent
01:29 or their conveyancing lawyer that this is one part of the cost that they'll now be able to avoid.
01:35 It's really exciting for us to be able to add this extra money that we've paid on
01:42 stamp duty back into our renovation so it won't go unused. I'm just so excited that it can
01:49 be reinvested back into our family and our home.
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