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As well as the FHOG, the State Government of Western Australia provides eligible First Home Buyers with the First Home Owner Rate, which offers concession to stamp duty. First home buyers in WA do not pay stamp duty on properties up to the value of $430,000, an if the property is valued between $430,001 to $600,000 it will attract a concessional rate on stamp duty. Considering stamp duty on a $250,000 property is some $7,000, the saving to first home buyers can be substantial and help someone get into their first home sooner.
For more information download the First Home Owners Rate fact sheet.
If you have any enquiries concerning the First Home Owners Grant Scheme or the First Home Owners Rate, please feel free to call us at Merrifield Real Estate. We are always willing to help.