Business News
Industry has welcomed the state government’s expansion of the stamp duty rebate plan to include apartments under construction, with experts hoping it will boost housing supply.
Treasurer Rita Saffioti announced the move today, speaking at Blackburne’s East Village project in Karrinyup, which is due for completion later this year.
The scheme provides a 75 per cent stamp duty rebate for apartments valued up to $650,000, between 37.5 per cent and 75 per cent for apartments between $650,000 and $750,000, and a 37.5 per cent rebate for properties valued more than $750,000.
Previously, it applied to apartments off-the-plan, which developers said was a disincentive to commence builds.
To read the story in full, including comments from UDIA WA Executive Director Strategy and Policy Sarah Macaulay, click here.