April 24 2019
Dealing with foreign buyers? You should know this.
Effective 1 January 2019, certain acquisitions of residential property by foreign buyers in Western Australia are subject to an additional 7% duty. This includes transfers of property.
The person liable to pay duty is generally the purchaser, transferee or person receiving the dutiable property.
You should communicate this information to foreign buyers as a material fact.
For full details, including definitions, exemptions fact sheets and commonly asked questions visit the Department of Finance (DOF) Foreign Buyers Duty page.
Want to learn more?
State Revenue offers interactive webinar and live information sessions for Real Estate Agents that cover various aspects of transfer duty and the first home owner grant including:
- dutiable transactions and dutiable property
- lodgement and payment requirements
- when transactions will be aggregated
- how to avoid being charged double duty
- FHOG overview:
- eligibility and residency requirements
- first home owner rate of duty
Visit the DOF Duties Education page to see all education topics and options, view recorded webinars or register for an education session today!