Stamp Duty News

HomeBuilder Grant - am I eligible?

On June 4th, 2020 Scott Morrison announced new HomeBuilder program that provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations.

WA Foreign Buyers Surcharge

From 1 January 2019, the WA state government introduced a foreign buyer surcharge, known as the Foreign Buyers Duty. Western Australia is the last state that introduced Foreign Buyers Surcharge in Australia. In addition to the usual transfer duty that is payable on the purchase of the property or land, foreign buyers will be charged an extra 7% of the value of the property.