Stamp Duty Concessions
What is Stamp Duty?
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.
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!
No Stamp Duty is payable on vacant land under $300,000
Discounted Stamp Duty is payable on vacant land between $300,000-$400,000
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.