Changes to the stamp duty thresholds announced by the Cook Government in March are now live.
First home buyers will now pay no stamp duty on homes valued up to $500,000 (previously $450,000).
If the value of the home is between $500,000 and $700,000 (up from $600,000) in the Metropolitan or Peel regions, they will pay a concessional rate of $13.63 for every $100, or part of $100, by which it exceeds $500,000.
For first home buyers outside the Metropolitan or Peel regions, when the home is valued between $500,000 and $750,000 (up from $600,000), duty is payable at a rate of $11.90 for every $100, or part of $100, by which it exceeds $500,000.
For the purchase of vacant land:
- no duty is payable on land valued up to $350,000 (previously $300,000).
- if the value is between $350,000 and $450,000, duty is payable at a rate of $15.39 for every $100, or part of $100, by which it exceeds $350,000.
RevenueWA has applied the changes to its systems to calculate the new rates. REIWA's stamp duty calculator has also been updated to reflect the changes.
If you are a first home buyer and you purchased a home between 21 March 2025 (when the changes were announced), and it settled before the new stamp duty rates went live, you may be eligible for the concessions but will have to apply for a refund of the duty paid.
REIWA has consistently been advocating for an increase to stamp duty thresholds for first home buyers to reflect rising property prices, and welcomes the implementation of these changes. The Institute would like to see the stamp duty thresholds pegged to the REIWA median house price so they can move with the market and ensure as many first home buyers as possible can access the concessions.
