Just in case you missed it, the $3000 First Home Owner Grant was removed for eligible contracts dated from and including 3 October 2015. Here's the run down...
The good news is this only affects existing residential properties. However where eligible you should still be able to attain the 'First Home Owner Transfer Duty Concession' namely Nil duty for approved First Home Owners in the price $430k and under, then scaled up to normal levels up to $530k.
The 'New Homes' Grant of up to $10k currently remains in place for approved First Home Buyers. Along with Transfer Duty Concessions within the above mentioned ranges.
The change in FHOG
According to the Office of State Revenue, the first home owner grant (FHOG) is a one-off grant payable to first home owners that satisfy all the eligibility criteria.
Download a free copy of the 'First Home Owner Grant' fact sheet below, or for an explanation of these changes in plain English, contact Damien at A1 Conveyancing to check where you stand.
2015/16 Western Australian State Budget The Western Australian State Budget was handed down on 14 May 2015.
The new levels of First Home Buyer Duty levels are nil for under $430k and revert to normal at $530k effective from 3 July 2014.
Royal assent was granted on 2 July 2014, so now applies to all First Home Buyer contracts dated 3 July or later.
Contact A1 Conveyancing to discuss your title transaction needs.
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