WA First Home Buyers Stamp Duty/Rate of Duty

Discussion in 'Investment Strategy' started by ClimbTheLadder, 18th Mar, 2020.

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  1. ClimbTheLadder

    ClimbTheLadder Member

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    I tried searching for information in the forum regarding WA First Home Owners Stamp Duty but couldn't find anything definitive.

    Based on this article, https://www.wa.gov.au/sites/default/files/2019-07/Duties-Fact-Sheet-First-Home-Owner-Rate.pdf, I read it as I will be entitled for FHOR of duty if:
    • 18 years or over;
    • I am an Australian citizen or PR;
    • property will be my PPOR for at least 6 months within 12 months of settlement.
    The discounted stamp duty will apply on a sliding scale if the property is between $430,000 to $530,000.

    Do you know if I can treat a property as PPOR if it is currently under renovations?

    Also, where would you recommend to buy in WA for capital gains to take advantage of this FHOR of duty.

    Thanks
     
  2. thatbum

    thatbum Well-Known Member

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    What else did you want to know? That info sheet has pretty much the main details.

    I lived in my place while I was renovating it - you can renovate it as long as its actually your main place of residence.
     
  3. ClimbTheLadder

    ClimbTheLadder Member

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    Apologies, I should have been clearer in my post. Is the only difference between the discounted stamp duty and 10K first home owners bonus is that one can be an established home whilst the other needs to be new.
     
  4. thatbum

    thatbum Well-Known Member

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    Yes pretty much. A new home would get access to both.
     
  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Don't forget the home buyers assistance account of $2k if buying an established property, their limit is $400k I believe
     
  6. JohnPropChat

    JohnPropChat Well-Known Member

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    I recommend buying something inner ring (<10km from CBD)

    Make sure your get your renno numbers right, it is so easy to loose money otherwise.
     
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