What is stamp duty in WA?
Stamp duty in Western Australia (WA), also known as transfer duty, is a state government tax applied to the sale or transfer of many personal and business-related assets, most commonly real estate.
How much is stamp duty in WA?
Stamp duty in Western Australia is calculated on a sliding scale according to your property value. A concessional rate applies to business or residential properties valued under $200,000 and rates increase thereafter with the property value.
Stamp duty costs in WA will vary depending on:
- The property's value
- The type of property you purchase (e.g. house, apartment, vacant land)
- Whether you're buying a home or investment property
- Your residency status
- Your income and partner’s income
- Your eligibility as a first-home buyer
- Your eligibility for pensioner concessions
General stamp duty rates in Western Australia
| Property value | Stamp duty payable |
|---|---|
$0 - $120,000 | $1.90 per $100 or part thereof |
$120,001 - $150,000 | $2,280, plus $2.85 per $100 or part thereof above $120,000 |
$150,001 - $360,000 | $3,135, plus $3.80 per $100 or part thereof above $150,000 |
$360,001 - $725,000 | $11,115, plus $4.75 per $100 or part thereof above $360,000 |
$725,001+ | $28,453, plus $5.15 per $100 or part thereof above $725,000 |
$500,000 vs $750,000 property stamp duty example calculation in WA
| Property price | Owner-occupier stamp duty | Investment stamp duty |
|---|---|---|
$500,000 | $18,275.60 | $18,275.60 |
$750,000 | $30,311.10 | $30,311.10 |
Generally, first-home buyers of properties between $450,000 - $600,000 will attract the lowest stamp duty in Western Australia.
First-home buyer stamp duty rates in WA
| Property value (home) | First-home buyer stamp duty |
|---|---|
$0 - $450,000 | Nil |
$430,000 - $600,000 | $15.01 for every $100, or part of $100, by which it exceeds $450,000 |
$600,001+ | General rates apply |
| Property value (vacant land) | First-home buyer stamp duty |
|---|---|
$0 - $300,000 | Nil |
$300,000 - $400,000 | $13.01 per $100 or part thereof above $300,000 |
$400,001+ | General rates apply |
Who pays stamp duty in WA?
The property buyer (person or business) or whoever receives the asset (even as a gift) pays stamp duty in WA (unless an exemption applies). Keep in mind that stamp duty is an additional cost you need to factor in on top of your property cost, conveyancing and insurance.
The good news is that most lenders will allow you to increase the principal amount of your home loan to account for stamp duty. This will increase your home loan repayments. If you're buying a property with the help of a conveyancer, they may take care of the paperwork and lodge the payment with the revenue office on your behalf.
When is stamp duty in WA payable?
In WA, stamp duty is payable within 30 days of when your duties assessment notice is issued. Late payment penalties apply. Your conveyancers must apply for the duties assessment notice with the local revenue office within two months of settlement.
How do you pay stamp duty in WA?
Stamp duty can be paid by direct deposit, cheque, credit card, and other major payment options. In most cases, you'll receive a notice from RevenueWA or the state’s department of finance delivered to the address of the purchased property or via email. This letter will often contain:
- The amount of stamp duty payable
- Details on the tax and how it was calculated
- Concessions or exemptions included in the calculation
- Payment options
- Payment due date
- Information regarding late payments and associated penalties or charges
- Reference details for the notice and payment
What are the stamp duty exemptions in WA?
Western Australia has a stamp duty exemption for first-home buyers purchasing a new property or vacant land up to the following price threshold:
- Properties (home and land) valued at less than $450,000. This results in a maximum saving of $15,390
- Vacant land less than $300,000
In WA, stamp duty exemptions also apply when:
- Transferring the title of your primary residence to a married or de facto partner
- Transferring farming property to family members
- For transactions of charitable or similar public purposes
There’s also a $10,000 first-home buyer grant in WA that may help further reduce the cost of buying a home.
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