The 2025-26 budget introduces no new taxes or changes to existing ones. Its key initiative is removing stamp duty for first home buyers in Tasmania on homes up to AUD 750,000.
Guy Barnett, Treasurer and Deputy Premier of Tasmania, presented the 2025–26 budget for Tasmania on 29 May 2025.
The 2025-26 budget introduced no new taxes and made no adjustments to existing ones. It prioritises the core issues impacting our community—the cost of living, healthcare, and housing—while ensuring the safety of all Tasmanians.
The key budget initiative is eliminating stamp duty for first home buyers in Tasmania. The government is working to eliminate stamp duty for first home buyers purchasing existing homes up to AUD 750,000, providing savings of up to AUD 28,000 for Tasmanians.
The government is extending the ‘My Home shared equity program’, allowing eligible Tasmanians to buy homes with just a 2% deposit. The program now has higher income thresholds for greater accessibility.