❓ First home owners grant 463. Hon Tim Clifford to the parliamentary secretary representing the Treasurer: In May 2024, as part of the state budget, the Western Australian Government made it possible fo
AnsweredQoN 463Legislative Assembly
QuestionView source ↗
First home owners grant
463. Hon Tim Clifford to
the parliamentary secretary representing the Treasurer:
In May 2024, as part
of the state budget, the Western Australian Government made it possible for
people buying their first home under $450,000 to avoid transfer duty or
purchase between $450,001 and $600,000 at a concessional rate. This would
interact with the first home owners grant (FHOG), already in place since 2000.
(1) Did the government
do any modelling on the effect of the interaction between the transfer duty or stamp duty changes and the first home owner grant on house prices?
(2) With regard to (1), can the Treasurer table
any documentation, please?
463. Hon Tim Clifford to
the parliamentary secretary representing the Treasurer:
In May 2024, as part
of the state budget, the Western Australian Government made it possible for
people buying their first home under $450,000 to avoid transfer duty or
purchase between $450,001 and $600,000 at a concessional rate. This would
interact with the first home owners grant (FHOG), already in place since 2000.
(1) Did the government
do any modelling on the effect of the interaction between the transfer duty or stamp duty changes and the first home owner grant on house prices?
(2) With regard to (1), can the Treasurer table
any documentation, please?
AnswerView source ↗
I thank the
honourable member for some notice of the question. The honourable member's
question was redirected to the Treasurer, and I provide the following answer on
behalf of the Treasurer.
(1)–(2) In May 2024, transfer duty
exemption and concession thresholds were increased by $20,000 and $70,000
respectively, the impact of which was considered minimal on house prices and
was anticipated to support almost 5,000 homebuyers to get into the housing
market. The first home owners grant has remained stable since 2017, and its
impact on house prices is considered minimal.
honourable member for some notice of the question. The honourable member's
question was redirected to the Treasurer, and I provide the following answer on
behalf of the Treasurer.
(1)–(2) In May 2024, transfer duty
exemption and concession thresholds were increased by $20,000 and $70,000
respectively, the impact of which was considered minimal on house prices and
was anticipated to support almost 5,000 homebuyers to get into the housing
market. The first home owners grant has remained stable since 2017, and its
impact on house prices is considered minimal.
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