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Australia: Increase in first homeowner duty concessions (Western Australia)

The changes will apply to agreements entered into from May 9, 2024.

August 22, 2024

The Western Australian Parliament passed a bill that increases the first homeowner duty concessions.

The Duties Amendment (First Home Owner Concessions) Bill 2024, amends the state's Duties Act 2008 so that:

  • Properties valued up to $450,000* (previously $430,000) are exempt from transfer duty
  • Properties valued between $450,001 and $600,000 (previously $430,001 - $530,000) receive a duty concession

According to a related government release, the measure was announced as part of the 2024-2025 state budget and the changes will apply to agreements entered into from May 9, 2024.

*$=Australian dollar

 

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