The change to the First Home Owner Rate of Duty has commenced on 3 July 2014 and will now apply to transactions on or after that date. This effectively means that the exemption for WA Transfer Stamp Duty concession for first home buyers is reduced for established dwellings. The exemption threshold for paying duty for properties valued at $500,000 has been decreased to $430,000.
Transfer Stamp Duty Concession – First Home Buyers
For established home, the First Home Buyers grant is still $3000 where the total property value ( i.e total value of land and home) is $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less.
The First Home Buyers Grant is still $10,000 for first home buyers building or purchasing a new home.
