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Property Council WA wins 75% stamp duty discount
Property Council WA wins 75% stamp duty discount 23 October 2019 Matthew Hughes Article by Property Council of Australia | Source: Property Council October 23, 2019 Property Council WA has secured a State Government decision to offer a 75 per cent stamp duty rebate for off-the-plan apartment buyers. The change is effective immediately. Previously the State Government’s stamp duty regime favoured off-the-plan buyers of house and land packages. These buyers paid stamp duty only on the price of land. Off-the-plan apartment buyers were charged stamp duty on the full purchase price. The State Government’s new initiative – a two-year 75 per cent stamp duty rebate on off-the-plan apartments – embraces Property Council WA’s advocacy on fairer tax and creates a level playing field for off-the-plan houses and apartments. Property Council WA Executive Director Sandra Brewer said she was delighted that the State Government had taken Property Council WA’s well-researched arguments on board. “The State Government’s urban growth plan is for 47 per cent infill, housing choice and well-designed density close to public transport and services,” Ms Brewer said. “Our modelling shows ending stamp duty d
Article by Property Council of Australia | Source: Property Council October 23, 2019 Property… Read Article