Duty Charges (Stamp Duty)
Calculation of duty - how much duty and what are the rates
click on the different rates below :
General rate of duty
Residential rate – applies to transactions involving residential property
First home owner rate – reduced rate for first home buyers - refer to the link now amended - NOTE THIS WILL CHANGE FROM 1/7/2014 REFER TO OUR MAIN PAGE FOR DETAILS
Concessional rate – for a principle place of residence or continuing business – must be valued at less than $200,000
Duties calculators - CHANGES WILL APPLY FROM 1/7/2014
Duties ready reckoners CHANGES WILL APPLY FROM 1/7/2014
all links above take you direct to the Office of State Revenue website
First Home Owners Grant
Duties Act 2008
Statement from the Commissioner of State Revenue
Changes to the arrangements for the first home owner grant that were announced as part of the 2015-16 State Budget came into effect from Saturday 3 October 2015.
The changes mean that any contract to purchase an established home in Western Australia that is signed on or after Saturday 3 October 2015 will no longer be eligible for the $3,000 first home owner grant.
However, the first home owner transfer duty concession of up to $14,400 will remain in place for purchasers who buy an established home up to the value of $530,000.
The $10,000 first home owner grant available for new homes remains unchanged.
Further information about the first home owner grant and transfer duty concession, including eligibility requirements and how to apply, are available on our website.
Land Tax Act 2002
Under the proposed amendments, the rate of tax imposed by the Land Tax Act 2002 will increase by 10%, with the new tax scale to apply for the 2014-15 assessment year.
Pay-roll Tax Assessment Act 2002
The Bill also seeks to deliver the State Government’s commitment to increase the payroll tax exemption threshold as announced in the 2013-14 State Budget. The annual tax-free threshold for payroll tax will increase from $750,000 to $800,000 from 1 July 2014 and to $850,000 from 1 July 2016.
First Home Buyers Fee Assistance
The Fee Assistance Scheme
The scheme provides a grant of up to $2,000 for the settlement, mortgage premium and lending costs of first home buyers when they purchase an established or partially built home through a licensed Real Estate Agent for the purchase price of $400,000 or less.
If you do not purchase the property through a licensed Real Estate Agent you do not qualify for this assistance as it is funded by interest on Real Estate Agents trust accounts.
An Application can be downloaded by clicking on the link below :-
What is Land Tax
Land Tax is a tax charged by the State Government on property. If you purchase a property as your primary and principle place of residence Land Tax should not apply depending on the property type. Click on the following link to go direct to State Revenue for more information :-
Information about moving
When do I have to move out if I have sold the property I reside in
You must vacate your property by 12 noon the day following settlement unless there is an agreed arrangement between all parties to the Contract.
We are so excited to move into our new house when can we have access
If the property is vacant on settlement you can collect your keys direct from your Real Estate Agent and access the property on completion of settlement. If the property is occupied then the Seller or Tenant has until 12 noon the day following settlement to move out and then you can access the property.