What is stamp duty concession?

Stamp duty concession refers to reductions or full exemptions from transfer duty that Western Australia offers to eligible first home buyers. Transfer duty (commonly called stamp duty) is a tax payable when property ownership changes hands in WA, and it typically increases with the purchase price of the property.

For first home buyers who qualify, concessions allow them to pay little or no transfer duty on their purchase. Eligibility depends on factors such as whether you are a genuine first home buyer, the purchase price of the property, and whether the property will be your principal place of residence. The WA government periodically adjusts these thresholds and concession levels, so the amount you may save varies over time.

Stamp duty concessions matter because transfer duty can represent a significant cost in a property transaction, and reducing or eliminating it improves affordability for buyers entering the market. Since transfer duty is non-negotiable and applies regardless of your loan amount or deposit size, concessions directly reduce the cash you need to settle. Mortgage brokers often explain concession eligibility during the loan discussion, as it affects your total purchasing power and settlement costs. If you are a first home buyer in Perth or regional WA, your mortgage broker can advise whether you qualify and help you understand the impact on your overall borrowing strategy. Visit first home buyer mortgage providers in the directory for detailed guidance on your specific situation.