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Breaking News! 75% stamp duty ...

Breaking News! 75% stamp duty rebate for WA off-plan apartments

Western Australian Government has today announced Stamp Duty rebates of up to $50,000 for all buyers purchasing off-the-plan apartments in a bid to stimulate the state's struggling property sector,
Breaking News! 75% stamp duty rebate for WA off-plan apartments

Western Australian Government has announced Stamp Duty rebates of up to $50,000 for all buyers purchasing off-the-plan apartments in a bid to stimulate the state's struggling property sector, slow construction industry and create jobs.

How it works:

• Available to buyers who sign pre-construction contracts to purchase a new residential unit or apartment in a multi-tiered development;
• No cap on the purchase price or value of the unit or apartment
• Purchasing more than one property will make you eligible for multiple rebates
• The discount will also apply to Transfer Duty and Foreign Buyers Duty
• Starting effective immediately for the next 2 years (between 23 October 2019 and 23 October 2021)

This rebate also builds on the generous stamp duty assistance that is already available to first home buyers in WA. For example, a first home buyer purchasing an apartment valued at $450,000 would currently pay around $3,800 in duty. The rebate will reduce this to just $960.

Australian buyer savings:

Price ($) Current duty New duty Saving
300,000 8,835 2,209 6,626
400,000 13,015 3,254 9,761
500,000 17,765 4,441 13,324
600,000 22,515 5,629 16,886
700,000 27,265 6,816 20,449
800,000 32,316 8,079 24,237
900,000 37,466 9,366 28,099
1,000,000 42,616 10,654 31,962
1,500,000 68,365 18,365 50,000

Foreign buyer savings:

Price ($) Current duty New duty Saving
300,000 29,835 7,459 22,376
400,000 41,015 10,254 30,761
500,000 52,765 13,191 39,574
600,000 64,515 16,129 48,386
700,000 76,265 26,265 50,000
800,000 88,316 38,316 50,000
900,000 100,466 50,466 50,000
1,000,000 112,616 62,616 50,000
1,500,000 173,365 123,365 50,000

Save on a brand-new WA apartment
Act now to get the best available options

With the Western Australian economy set to gain momentum with:

• $165B of Mining & Infrastructure projects;
• WA now getting over A$2bn worth of GST top up payments from the Federal Government over the next 4 years;
• the population growth improving; and
• Vacancy rates on the decline.

There has never been a better time to take advantage of the softer market conditions than now, so secure your stamp duty saving before the property market moves into its next growth cycle

Aussieproperty.com have a vast selection of Perth’s most impressive off-plan pre-construction developments that are well researched and offer the best opportunities for capital growth and strong rental yields. For a full selection of properties contact our team.

Finance options are available. Discover how to unlock your existing equity to secure a new apartment.

Our professional Property Management team can ensure your property in Perth is well taken care of with their low 6.6%pa Property Management Fee (including GST)*

*Additional fee for monthly statements. Website marketing, professional photography, signage, court attendance, letting and releasing fees will only be charged when services are required.

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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