- Legislation lifts transfer duty exemptions for first homebuyers
- Extension of off-the-plan duty concession to 30 June 2026
- Single-tiered strata dwellings included in off-the-plan concession for first time
Legislation to boost housing affordability has passed the Western Australian Parliament.
The Duties Amendment Bill 2025 will assist first homebuyers and people buying eligible properties off-the-plan.
Major components of the Bill mean:
- no duty is payable on homes valued up to $500,000, saving eligible first homebuyers nearly $18,000;
- a reduced rate of duty applies to homes valued between $500,000 and $700,000 inside the Perth metropolitan and Peel regions, and to homes valued between $500,000 and $750,000 outside those regions; and
- first homebuyers purchasing vacant land to build their first home will pay no duty on land valued up to $350,000 and a reduced rate of duty will apply to land valued between $350,000 and $450,000.
This means about 22,000 first homebuyers over the next four years will be assisted, with about 8,000 buyers no longer paying any transfer duty when buying their first home or vacant land to build their first home.
More information about the first home owner duty concession is available from wa.gov.au .
Under the legislation, the off-the-plan duty concession is extended until 30 June 2026 with thresholds for the concession lifted by $100,000. This means:
- a 100 per cent concession, capped at $50,000, is available for eligible properties valued up to $750,000 that are purchased before construction commences.The concession phases down to a 50 per cent concession for properties valued above $850,000, capped at $50,000; and
- a 75 per cent concession, capped at $50,000, is available for eligible properties valued up to $750,000, purchased while under construction. This phases down to 37.5 per cent for properties valued above $850,000.
Off-the-plan dwellings on single-tiered strata schemes and community titles (building) schemes (excluding survey-strata schemes) will also be eligible for the duty concession for the first time.
More information on the off-the-plan duty concession is available from wa.gov.au .
The changes to the first homebuyers and off-the-plan duty concessions apply to purchases from 21 March 2025.
As stated by Finance Minister David Michael:
"I'm proud to see this legislation pass through the WA Parliament last night, delivering on our election commitment to help more Western Australians achieve their dream of home ownership.
"It is significant legislation aimed at assisting first homebuyers but beyond that it will help those people looking at off-the-plan purchases.
"Other benefits include boosting housing density and choice and providing options when downsizing by buying off the plan.
"This may be particularly helpful for seniors who may be considering this option.
"Buying a house is a significant financial transaction, so it's crucially important to get the proper information on transfer duties before making any decisions.
"Contact RevenueWA on 9262 1400 or visit the Contact RevenueWA webpage."
