Australian Property Investor

Apartment buyers in Western Australia have been given an extra two years to access stamp duty rebates for off-the-plan purchases, but the scheme has been cut from 75 per cent to 50 per cent.

WA Premier Mark McGowan announced the state government would extend its stamp duty rebate scheme as part of the WA state budget, which delivered a record $5.6 billion surplus, largely driven by a big lift in iron ore royalties.

The stamp duty rebates, which apply to off-the-plan purchases pre-construction and are capped at $50,000, will now be available until October 2023.

To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck, click here.