New Stimulus Measure For Off-The-Plan Apartments

Salt Property are happy to announce the McGowan Labor Government is investing in the residential construction industry, with a stamp duty rebate to help stimulate the property and construction sectors.

The positive impact of this stamp duty rebate is going to be massive. Below are the key points you need to know.

  1. From 23 October 2019 to 23 October 2021, buyers who enter into a pre-construction contract to purchase an apartment will receive a massive 75% rebate off their stamp duty up to $50,000.
  2. There is no cap on the purchase price, so if you buy a $1.5M apartment, you only pay $18,365 stamp duty vs normally $68,365.  Saving you a massive $50,000!
  3. An important fact to note is that the development must NOT have commenced construction. i.e. “pre-construction” stage.
  4. Stamp duty rebate applies to Foreigner Buyers as well.

Read the full article at www.mediastatements.wa.gov.au/Pages/McGowan/2019/10/New-stimulus-measure-to-promote-infill-and-job-growth.aspx

Find out if you’re eligible by visiting www.wa.gov.au/government/announcements/the-plan-duty-rebate-scheme

For more information email projects@saltproperty.com.au or call (08) 9316 3911.