Stamp Duty Changes Are Coming!
If you’re a first home buyer in Western Australia—or thinking about buying off-the-plan—there’s some exciting news that could save you thousands.
The WA Government has just announced major changes to the First Home Owner Rate of Duty and the Off-the-Plan Duty Concession, set to take effect for contracts entered into from 21 March 2025. These updates aim to make the dream of home ownership more achievable and to give our housing market a well-timed boost.
Note: The implementation of these changes is subject to legislative amendments and the parliamentary process. It is anticipated that RevenueWA will be able to implement the changes from June 2025. Transactions entered into on or after 21 March 2025 that are eligible for a reduced amount of duty but settle before the changes can be implemented may be reassessed for a refund of duty after settlement directly with RevenueWA.
What’s Changing for First Home Buyers?
Established Homes (Perth & Peel):
- No duty payable for homes up to $500,000
- Concessional duty applies between $500,001 and $700,000
- Standard duty applies over $700,000
Established Homes (Regional WA):
- No duty payable for homes up to $500,000
- Concessional duty applies up to $750,000
Vacant Land:
- No duty payable for land up to $350,000
- Concessional duty applies between $350,001 and $450,000
- Standard duty applies over $450,000
These changes mean more properties will fall within concessional duty brackets, offering significant savings for eligible first home buyers.
🏗️ Off-the-Plan Duty Concession – Current vs. Future
Current Concession (Valid Until 30 June 2025):
- Available for new residential units or apartments bought off-the-plan
- Applies to multi-tiered strata schemes
- Duty is calculated on the dutiable value excluding construction costs
What’s Changing from 21 March 2025:
- Eligibility Extended to contracts signed up to 30 June 2026
- Thresholds Increased:
- Full exemption up to $750,000
- Tiered discounts between $750,001 and $850,000
- Broader Property Types:
- Now includes townhouses, villas, and other strata/community title dwellings
- Note: Survey-strata titled dwellings are not eligible
These enhancements are expected to drive growth in the construction sector while providing more buyers access to newly built properties with generous stamp duty savings.
💡 What Buyers Should Know
The changes aren’t in effect just yet—they’re expected to be fully implemented by June 2025 (pending legislation and system updates).
If you enter into a contract on or after 21 March 2025, but settle before the system update, you may still be eligible for a refund once the new rules kick in.
👉 For full details on the changes, eligibility criteria, and examples, we encourage you to visit the official RevenueWA announcement here:
🤝 How We Can Help at Hanson Property Settlements
At Hanson Property Settlements, we’re across the latest legislative changes and what they mean for your property journey. Whether you’re buying your first home or investing in an off-the-plan property, we’ll guide you through the process, make sure you understand your entitlements, and help you maximise your savings.
📞 Contact us today to chat about how these changes could work in your favour:
www.hpsetts.com.au | 08 6160 6470 | admin@hpsetts.com.au