MORE opportunities for first-home buyers and investors alike!
The State Government has announced changes to the first homeowner concessional rate of duty and the off-the-plan duty concession. These updates apply to transactions entered into from 21 March 2025 and are expected to be implemented by early June 2025, subject to legislative amendments.
Duty Assessment & Reassessments
Eligible transactions settling before the changes take effect may be reassessed, with refunds issued where applicable.
First Homeowner Rate of Duty Changes
For vacant land purchases:
> No duty payable for land valued up to $350,000 (previously $300,000).
> A reduced rate of duty applies for land valued between $350,000 and $450,000 (previously $300,000 – $400,000).
> The maximum value for concessional duty eligibility increases to $450,000 (previously $400,000).
For home purchases:
> No duty payable for homes valued up to $500,000 (previously $450,000).
> A reduced rate of duty applies for homes valued between $500,000 and $700,000 in Perth & Peel, or $500,000 and $750,000 in regional areas (previously $450,000 – $600,000).
> The maximum property value for concessional duty eligibility increases to $700,000 in Perth & Peel, and $750,000 in regional WA (previously $600,000 for both).
Off-the-Plan Duty Concession Updates
> Extended deadline: The concession is now available until 30 June 2026 (previously set to expire 30 June 2025).
> Increased thresholds for pre-construction contracts:
- No duty payable for properties valued up to $750,000 (previously $650,000).
- The 100% concession reduces to 50% for properties valued between $750,000 – $850,000 (previously $650,000 – $750,000).
- A 50% duty concession applies to properties over $850,000 (previously $750,000).
Updated thresholds for under-construction contracts:
- A 75% duty concession applies for properties valued up to $750,000 (previously $650,000).
- The 75% concession reduces to 37.5% for properties valued between $750,000 – $850,000 (previously $650,000 – $750,000).
- A 37.5% duty concession applies to properties over $850,000 (previously $750,000).
Expanded eligibility: Concessions now apply to all strata scheme or community title dwellings, including townhouses and villas—not just multi-tiered schemes. This excludes dwellings constructed on survey-strata plans.
These updates provide greater opportunities for first-home buyers and investors alike. If you have any questions about how these changes may impact you, feel free to get in touch.
