The State Government has announced changes to the value of vacant land and homes eligible for the first home owner concessional rate of duty. Changes to extend and expand the off-the-plan duty concession were also announced. The changes apply to transactions entered into from 21 March 2025.
Duty assessment
The changes require legislative amendments. It is anticipated that RevenueWA will be able to implement the changes from early June 2025. The changes and timeframe are subject to the Parliamentary process and updates to RevenueWA's systems.
Transactions entered into on or after 21 March 2025 that are eligible for a reduced amount of duty but settle before the changes can be implemented may be reassessed for a refund of duty after settlement.
First home owner rate of duty
The announced changes will increase the value of vacant land and homes that are eligible for no transfer duty or a reduced rate of duty.
For the purchase of vacant land:
- the value of the land must not exceed $450,000 (previously $400,000).
- no duty is payable on land valued up to $350,000 (previously $300,000).
- a reduced rate of duty applies if the value is between $350,000 and $450,000 (previously between $300,000 and $400,000).
For the purchase of a home:
- the value of the home must not exceed:
- $700,000 for properties located in the Perth Metropolitan and Peel regions
- $750,000 for properties located outside these regions
(previously $600,000 for both).
- no duty is payable on homes valued up to $500,000 (previously $450,000).
- a reduced rate of duty applies if the value is between $500,000 and $700,000 in the Perth and Peel regions, or $500,000 and $750,000 outside those regions (previously between $450,000 and $600,000).
See more information about the first home owner rate of duty.
Off-the-plan duty concession
The announced changes to the off-the-plan duty concession will:
- extend the last date for the concession until 30 June 2026 (previously due to expire on 30 June 2025).
- increase the thresholds for pre-construction contracts so that:
- no duty is payable on properties valued up to $750,000 (previously $650,000)
- the 100% duty concession reduces to 50% for properties valued between $750,000 and $850,000 (previously $650,000 and $750,000)
- a 50% duty concession applies to properties valued over $850,000 (previously $750,000).
- increase the thresholds for under construction contracts so that:
- a 75% duty concession applies to properties valued up to $750,000 (previously $650,000)
- the 75% duty concession reduces to 37.5% for properties valued between $750,000 and $850,000 (previously $650,000 and $750,000)
- a 37.5% duty concession applies to properties valued over $850,000 (previously $750,000).
- expand the concession to off-the-plan purchases of all strata scheme or community title (building) scheme dwellings including townhouses and villas, not just multi-tiered schemes. This does not apply to the construction of a dwelling on a survey-strata plan. Strata scheme has the meaning given in section 9 of the Strata Titles Act 1985 and community titles (building) scheme has the meaning given in section 11(7) of the Community Titles Act 2018.
See more information about the off-the-plan duty concession.
See the Minister's media statement - 24 March 2025.
