First Home Owners- Mates Rates Mortgages

First time buyer help in Western Australia

Western Australian first time buyers may be provided with reduced stamp duty options by the State Government in addition to the Federal First Home Owners Grant. Like most other States, both the First Home Owner Grant and the WA based exemptions are administered by the Office of State Revenue and Mates Rates will manage these applications together with your mortgage application, keeping your experience simple and stress free.

As a first home owner in WA, you may be eligible for the first home owner rate of stamp duty on a contract for the purchase of a home or vacant land where the contract is executed on or after 1 July 2004.

For established home purchases, from 10th May 2007;

There is no Transfer Duty payable on purchases up to $500,000.
For purchases between $500,001 and $600,000 the rate of stamp duty is $26.10 per $100 or part thereof above $500,000
For purchases above $600,000, no concession applies

For Vacant Land purchases, from 10th May 2007;
1. There is no Transfer Duty payable on purchases up to $300,000.
2. For purchases between $300,001 and $400,000 the rate of stamp duty is $15.70 per $100 or part thereof above $300,000
3. For purchases above $400,000, no concession applies

This may not be not a precise summary of incentives provided under the scheme. You can find out more about your own individual entitlements by arranging to talk to a broker for free or by reading further on the external links provided below.

External links:

This information was obtained from the WA Office of State Revenue on 16th June 2008.

First Home Owners Grant - WA

First time buyer help in Western Australia

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