WHAT DO YOU THINK OF CHANGES TO THE FIRST HOME BUYERS AND LAND TAX RATES

What do you think about the changes to Duty Rates First Home Buyers and also Land Tax Increases :-

• Duties Act 2008

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.

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.