24 April 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 to foreign buyers as they are now potentially liable for this in addition to regular duties and fees.
For full details, including definitions, exemptions fact sheets and commonly asked questions visit the Department of Finance Foreign Buyers Duty page.
Want to learn more?
State Revenue offers interactive webinar and live information sessions for Settlement Agents that cover (among other topics) various aspects of transfer duty including:
- dutiable transactions and dutiable property
- lodgement and payment requirements
- when transactions will be aggregated
- how to avoid being charged double duty
Visit the DOF Duties Education page to see all education topics and options, view recorded webinars or register for an education session today!
Coming soon: DMIRS Stakeholder Satisfaction Survey
As a user of the Department of Energy, Mines, Industry Regulation and Safety (DMIRS) services (licensee, tenant, registered organisation, business or consumer), you may be contacted through an email from DMIRS and invited to take part in the 2019 DMIRS Stakeholder Satisfaction Survey. The survey is being run by Ipsos to help DMIRS measure its performance.