Buyers – some information for you on Stamp duty in Western Australia

Quick info – a house of $1,000,000 = stamp duty calculates to $42 615

for a house of $500,000 – stamp duty calculates to $ 17 765

a house of $1,500,000 – stamp duty calculates to $68,365

 

IF you are a first home buyer – you would qualify for no stamp duty if you purchase a home for $430 000 or less

and pro -rata stamp duty calculated up to the purchase amount of $530 000

Summary: Stamp duty for First home Buyers

under $430 000 – no stamp duty payable

Between $430 000 and say $500 000 – stamp duty payable will be – $13 433

Home and land

  • The unencumbered value of the home and land together must not exceed $530,000.
  • No duty is payable if the dutiable value does not exceed $430,000.
  • If the dutiable value is between $430,000 and $530,000, duty is payable at a rate of $19.19 for every $100, or part of $100, by which it exceeds $430,000.

Vacant land

  • The unencumbered value of the vacant land must not exceed $400,000.
  • No duty is payable if the dutiable value does not exceed $300,000.
  • If the dutiable value is between $300,000 and $400,000, duty is payable at a rate of $13.01 for every $100, or part of $100, by which it exceeds $300,000.

more at this link:  https://www.wa.gov.au/government/publications/first-home-owner-duty-fs

 

Contact me on   0424 187 243   if you have any questions!

https://reiwa.com.au/the-wa-market/resources/calculators/stamp-duty-calculator/