Australia: Transfer duty extension, interest reduction for eligible property buyers affected by construction delays (Western Australia)
The state tax authority will now be able to defer payments of transfer duty for eligible off-the-plan development buyers affected by construction delays.
The government of Western Australia announced that the state tax authority will now be able to defer payments of transfer duty for eligible off-the-plan development buyers affected by construction delays.
In addition, for arrangements entered until June 2025, the tax authority will remit the interest normally charged on a payment arrangement for buyers in developments that were planned to be completed within three years from the contract date that remain unfinished.
Remissions of any late payment penalty tax will also be considered based on individual circumstances.