How much is stamp duty on a house in WA?

How much is stamp duty on a house in WA?

How does stamp duty work in WA?

Property value Rate
$80,001-$100,000 $1,520 plus 2.85% for every dollar over $100,000
$100,001-$250,000 $2,090 plus 3.8% for every dollar over $100,000
$250,001-$500,000 $7,790 plus 4.75% for ever dollar over $250,000
$500,001 and over $19,665 plus 5.15% for every dollar over $500,000

Who pays stamp duty on house sale in WA?

the purchaser of
Who pays stamp duty? In WA, the purchaser of the property or the transferee is liable to pay stamp duty when the sale or transfer takes place. When is stamp duty paid? You must lodge your documents for assessment of stamp duty within two months of the liability arising when the property is purchased or transferred.

Do seniors pay stamp duty in WA?

This concession assists seniors to downsize to more suitable homes as they get older. Queensland, New South Wales, South Australia and Western Australia do not currently offer a seniors-specific stamp duty concession, although WA does have a general concession for off-the-plan apartments (as at 20 April 2020).

How much stamp duty do you pay on a 600000 house?

Currently, you will pay 0% on the first £500,000 when purchasing a home, and the stamp duty fees will be calculated on any remaining cost. If you are purchasing a home for £600,000, for example, you would pay £5,000 in stamp duty, since it would be calculated by working out 5% of the remaining £500,000.

How much is stamp duty on a 500 000 house in WA?

Stamp duty on a $500,000 house in WA is $17,765 for a non-first home buyer buying an established property, new home or vacant land as their main place of residence. The stamp duty for the same house which will be used as an investment is $17,765.

What is stamp duty in Western Australia?

Stamp duty or ‘transfer duty’ is a state tax imposed on the sale of residential properties in Western Australia. The amount of stamp duty you are required to pay on your property purchase is dependent on a number of factors, including price of the property, location and whether or not you are a first home buyer.

What is the cap on stamp duty in WA State?

The cap limits the total value of property (i.e. total value of home and land) to $750,000.00 or less, or if the home is located north of the 26th parallel to $1,000,000 or less. Who pays the stamp duty in WA? The stamp duty is paid by the purchaser of the property.

What are the stamp duty exemptions for first home buyers in WA?

First Home Buyers in WA receive an exemption of stamp duty when the purchase price doesn’t exceed $430,000. If you’re purchasing for a price in between $430,000 and $530,000 the concessional rate of stamp duty will apply. For purchases over $530,000 there’s no concessions.