Hi all, I'm a new user to this forum and seek some clarity on stamp duty applicable to vacant land for a first home buyer in WA. I seem to be finding conflicting information so does anyone know the real answer?
Here is what I currently understand...
1- land under $300k has no stamp duty for first home owner ( paid at time of block purchase but refunded when building contract signed and you apply to get the stamp duty back from Dept of Finance/State Revenue)
2- stamp duty is paid at $13.01 per m2 when purchase price is between $300k and $400k ( paid at time of block purchase and the portion you paid for between $300 and $400k is not refunded as the benefit is that it is a reduced rate? Do you get the stamp duty money back that would have been charged up to the $300k mark?
3- block over $400k does not qualify for any reduced rates/exemptions and therefore is about $15k in stamp duty?
If anyone has exact links to clarify this for me that would be fab as I did a lot of mortgage sites, calculators etc are out of date or don't break the rates down etc.