Legislation aimed at boosting Western Australian housing affordability has passed the State Parliament today.
The Government says the Duties Amendment Bill 2025 will assist first homebuyers and people buying eligible properties off-the-plan.
“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,” said Finance Minister, David Michael.
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, said Minister 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,” he said.
“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,” he said.
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% 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% 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.
“It is significant legislation aimed at assisting first homebuyers but beyond that it will help those people looking at off-the-plan purchases,” said the Minister.
The changes to the first homebuyers and off-the-plan duty concessions apply to purchases from 21 March 2025.
More information about the first home owner duty concession is available from wa.gov.au.
More information on the off-the-plan duty concession is available from wa.gov.au.
Contact RevenueWA on 9262 1400 or visit the Contact RevenueWA webpage.
