Stamp Duty Concessions

What is Stamp Duty?

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Stamp Duty or ‘Transfer Duty’ is a state tax imposed on the sale of residential property in Western Australia. The amount of Stamp Duty you are required to pay on your property purchase is dependent on a number of factors, including price of the property, location and whether or not you are a first home buyer. 

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The good news for first home buyers is that the government is offering you some amazing concessions when you choose to build a new home. This will save you thousands and get you into your new home sooner!

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First Home Buyers Concessions:

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• No Stamp Duty is payable on vacant land under $300,000

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• Discounted Stamp Duty is payable on vacant land between $300,000-$400,000

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My tip!  If you want to buy the land first and settle on it without signing a building contract, you will be required to pay the full Stamp Duty upfront. However, this will be refunded once you sign a building contract.

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