Opportunity News: 75% Stamp Duty Rebate for Western Australia Off-Plan Apartments

A very good new year to you. Like to share a good news and an opportunity to those investors who keen to invest a cash flow unit in Perth, Western Australia market. Following is the news article from Steve Douglas (Feb, 2020):

"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.