"Western Australian Government has announced Stamp Duty rebates of up to $50,000 for all buyers (local and foreign buyers) purchasing off-the-plan apartments in a bid to stimulate the state's struggling property sector, slow construction industry and create jobs.
How it works:
v Available to buyers who sign pre-construction contracts to purchase a new residential unit or apartment in a multi-tiered development
v No cap on the purchase price or value of the unit or apartment
v Purchasing more than one property will make you eligible for multiple rebates
v The discount will also apply to Transfer Duty and Foreign Buyers Duty
v Starting effective immediately for the next 2 years (between 23 October 2019 and 23 October 2021)
Foreign buyer savings:
|
Price (AUD) |
Current Duty |
New Duty |
Savings |
|
300,000 |
29,835 |
7,459 |
22,376 |
|
400,000 |
41,015 |
10,254 |
30,761 |
|
500,000 |
52,765 |
13,191 |
39,574 |
|
600,000 |
64,515 |
16,129 |
48,386 |
|
700,000 |
76,265 |
26,265 |
50,000 |
|
800,000 |
88,316 |
38,316 |
50,000 |
|
900,000 |
100,466 |
50,466 |
50,000 |
|
1,000,000 |
112,616 |
62,616 |
50,000 |
|
1,500,000 |
173,365 |
123,365 |
50,000 |
With the
Western Australian economy set to gain momentum with:
v $165B of Mining & Infrastructure projects;
v WA now getting over A$2bn worth of GST top up payments from the Federal Government over the next 4 years;
v Population growth improving; and
v Vacancy
rates on the decline.
There has
never been a better time to take advantage of the softer market conditions than
now, so secure your stamp duty saving before the property market moves into its
next growth cycle."
Thank you for your kind attention.
I look forward to providing you real estate investment solutions available.
Stay safe
and keep healthy.
