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WA buyers to save on stamp duty
The government announced that the stamp duty threshold will increase by a further $50,000, effective today, and that the concession scheme will be extended until 30 June 2028, beyond its planned expiration.
Following the changes, smaller developments, such as duplexes or triplexes, will be eligible for the concession, saving buyers more than $32,000 if they buy pre-construction, and $24,000 if they purchase while construction is underway.
The threshold for a complete exemption from stamp duty has increased to $800,000, tapering to a 50 per cent concession at $900,000.
Treasurer of Western Australia (WA), Rita Saffioti, said the changes were part of the state’s planned measures to boost housing supply and affordability.
“By expanding stamp duty concessions to more homes, we’re providing greater choice to buyers and making home ownership affordable,” Saffioti said.
“This means older Western Australians looking to downsize can save thousands when buying a new apartment, townhouse, villa or unit off-the-plan or under construction.”
Housing and works minister John Carey said the changes were a “major expansion” to the state's existing stamp duty concessions.
“We are focused on measures that increase housing supply, including through changes to stamp duty that encourage downsizers to invest into new apartments and townhouses,” Carey concluded.