❓ Mr. Stephens asks the Treasurer to consider raising the stamp duty cap for first home buyers above the 26th parallel, given the increased First Home Owners Grant cap. The Treasurer responds that the government will monitor housing affordability and review the thresholds as appropriate, noting a previous review did not support regional differentiation due to complexity and administrative costs.
AnsweredQoN 2497Legislative Assembly
QuestionView source ↗
Will the Treasurer please advise:
(a) noting that the cap for the First Home Owners Grant for people above the 26
th
parallel is now set at the higher rate of $1million to reflect the increased cost of housing in that region, will the Treasurer give consideration to raising the stamp duty cap from the current $500,000 level that applies to first home buyers in this region; and
(i) if not, why not?
(a) noting that the cap for the First Home Owners Grant for people above the 26
th
parallel is now set at the higher rate of $1million to reflect the increased cost of housing in that region, will the Treasurer give consideration to raising the stamp duty cap from the current $500,000 level that applies to first home buyers in this region; and
(i) if not, why not?
AnswerView source ↗
Answered
20 April 2010
Response time
34 days
Department of Treasury and Finance answer
(a) The Government will continue to monitor housing affordability in Western Australia, including in regional areas, and review as appropriate the first home buyer transfer duty concession thresholds in the context of other housing affordability initiatives and the State's Budget priorities.
It is noted that the previous Government considered differentiation of first home buyer duty concession thresholds by region as part of its State Tax Review. However, the Review did not support it, on the basis that it would substantially complicate the scheme and add to administration costs.
(i) Refer to (a).
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(a) The Government will continue to monitor housing affordability in Western Australia, including in regional areas, and review as appropriate the first home buyer transfer duty concession thresholds in the context of other housing affordability initiatives and the State's Budget priorities.
It is noted that the previous Government considered differentiation of first home buyer duty concession thresholds by region as part of its State Tax Review. However, the Review did not support it, on the basis that it would substantially complicate the scheme and add to administration costs.
(i) Refer to (a).
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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