The West Australian
Stamp duty relief for off-the-plan apartments is set to be extended, as the Cook Government faces pressure to use a $2 billion Budget windfall to fuel housing supply.
Treasurer Rita Saffioti will use a keynote speech at an Urban Development Institute of Australia event in Perth to reveal her new plan to encourage downsizing.
“We are committed to ensuring every Western Australian has access to a quality home and supporting the delivery of more infill developments is key to our State’s housing future,” she said.
The threshold for stamp duty exemptions for dwellings purchased off-the plan will increase $50,000 to $800,000, while properties valued above $900,000 will get 50 per cent off.
For dwellings sold while under construction, the threshold for a 75 per cent concession will be increased to $800,000, tapering to a 37.5 per cent concession above $900,000.