❓ Dr. Honey questions the WA government on stamp duty revenue from foreign property buyers, rebates for off-the-plan purchases, and domestic buyer rebates. The answer provides data on foreign buyer duty collected and rebates given to both foreign and domestic buyers for off-the-plan properties.
AnsweredQoN 875Legislative Assembly
QuestionView source ↗
I refer to stamp duty for property transaction for each of the past five financial years, including 2022-23, and ask: (a) How many property sales attracted the foreign buyer duty in each year and what was the total foreign duty revenue for each year; (b) How many of those foreign buyer transactions involved off the plan property for which stamp duty and foreign buyer tax surcharge are rebated; (c) How much revenue was foregone for each year for the rebates for foreign buyers of off the plan properties; (d) How many off the plan properties were bought by domestic buyers in each year; and (e) How much revenue was foregone for each year for the rebates for domestic buyers of off the plan properties?
AnswerView source ↗
Answered
10 October 2023
Responded by
Parliamentary Secretary to the Minister for Finance
Response time
8 days
Answer
(a)
Financial Year
Taxable transactions subject to foreign buyer duty
Total foreign buyer duty
($)
2018–19*
173
4 219,307
2019–20
470
15 470,808
2020–21
499
15 919,139
2021–22
550
21 761,209
2022–23
767
33 855, 295
*introduced from 1 January 2019
(b)-(e)
Financial Year
(b)
(c)
(d)
(e)
2018–19*
0
0
0
0
2019–20
0
0
0
0
2020–21
5
125,000
94
1 610,583
2021–22
3
100,000
165
2 995,619
2022–23
12
474,097
192
4 257,144
(a)
Financial Year
Taxable transactions subject to foreign buyer duty
Total foreign buyer duty
($)
2018–19*
173
4 219,307
2019–20
470
15 470,808
2020–21
499
15 919,139
2021–22
550
21 761,209
2022–23
767
33 855, 295
*introduced from 1 January 2019
(b)-(e)
Financial Year
(b)
(c)
(d)
(e)
2018–19*
0
0
0
0
2019–20
0
0
0
0
2020–21
5
125,000
94
1 610,583
2021–22
3
100,000
165
2 995,619
2022–23
12
474,097
192
4 257,144
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