08/11/2025
(Originally Posted March 2025)
Exciting news for First Home Buyers!
For the purchase of a home:
the value of the home must not exceed:
$700,000 for properties located in the Perth Metropolitan and Peel regions
$750,000 for properties located outside these regions
(previously $600,000 for both).
no duty is payable on homes valued up to $500,000 (previously $450,000).
a reduced rate of duty applies if the value is between $500,000 and $700,000 in the Perth and Peel regions, or $500,000 and $750,000 outside those regions (previously between $450,000 and $600,000).
The changes require legislative amendments. It is anticipated that RevenueWA will be able to implement the changes from early June 2025. The changes and timeframe are subject to the Parliamentary process and updates to RevenueWA’s systems.
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.
Read the full announcement from WA.gov.au
https://www.wa.gov.au/government/announcements/changes-the-first-home-owner-rate-of-duty-and-the-the-plan-duty-concession -home-owner-rate-of-duty