First Home Buyer? If You’ve Signed a Contract Since 7 May 2026, You Could Be Entitled to a Stamp Duty Refund

The WA Government has announced proposed changes to first home buyer stamp duty concessions that could save some buyers thousands of dollars.

The important thing to know is that these changes have been announced, but they have not yet been implemented.

The proposed commencement date is currently 28 July 2026.

However, if you’re a first home buyer and you’ve signed a contract on or after 7 May 2026, you may still be eligible for the new concessions once the legislation is enacted, with RevenueWA indicating eligible transactions can be reassessed and refunded.

So what does this actually mean in practice?

Why Are These Changes Being Introduced?

Property prices have changed significantly over the past few years.

The reality is that many first home buyers are now purchasing homes between $600,000 and $800,000, yet the existing stamp duty thresholds have not kept pace.

The proposed changes are designed to increase those thresholds and reduce the amount of stamp duty payable by eligible first home buyers.

For many buyers, this isn’t about borrowing more money.

It’s about needing less money upfront.

The Proposed Changes at a Glance

Important Eligibility Dates

• Contracts entered into before 7 May 2026 are not expected to qualify.
• Contracts entered into on or after 7 May 2026 may be eligible for reassessment and refund once the legislation is enacted.
• The proposed commencement date is currently 28 July 2026.
• The relevant date is generally the contract date, not the settlement date.

WA First Home Buyer Changes – Current Rules vs Proposed Rules

Item	Current Rules…	Proposed Rules…	What It Means*
Stam Duty Exemption – Established Home	Up to $450,000	Up to $600,000	Potential saving of up to ~$17,765 on a $600,000 purchase
Stamp Duty Concession – Established Home	$450,001 – $600,000	$600,001 – $800,000	Potential savings generally ranging from ~$7,000 to $18,000 depending on purchase price
Full Stamp Duty Applies	Above $600,000	Above $800,000	First home buyers between $600,000 and $800,000 may continue to receive concessions rather than paying full duty
Stamp Duty Exemption – Vacant Land	Up to $350,000	Up to $450,000	Potential saving of up to ~$13,000 on eligible land purchases
Stamp Duty Concession – Vacant Land	$350,001 – $450,000	$450,001 – $600,000	Potential savings of several thousand dollars depending on land value
First Home Owner Grant (FHOG) Property Cap	$750,000	$800,000	Additional $10,000 FHOG may become available for eligible new builds between $750,000 and $800,000

What Could This Mean For You?

Let’s look at a couple of examples.

Example 1 – Purchasing an Established Home for $600,000

Under the current rules, a first home buyer may pay approximately $17,765 in stamp duty.

Under the proposed rules, that amount could reduce to $0.

That’s a potential saving of almost $18,000.

Example 2 – Purchasing an Established Home for $700,000

Under the current rules, a buyer would generally pay full transfer duty.

Under the proposed rules, a concession may apply.

Potential saving: approximately $14,000.

Example 3 – Building a New Home

If you’re building a new home valued between $750,000 and $800,000, the proposed increase to the First Home Owner Grant threshold may allow you to access the existing $10,000 grant where you may not have previously qualified.

I’ve Already Signed a Contract. What Happens Now?

This is where many buyers may benefit.

If you’ve entered into an eligible contract on or after 7 May 2026, RevenueWA has indicated that eligible transactions may be reassessed once the legislation is enacted and systems are updated.

In simple terms:

You may still need to pay stamp duty under the current rules at settlement, but if you qualify under the proposed changes, you may receive a refund after the legislation comes into effect.

The Bottom Line

If you’re a first home buyer and you’ve signed a contract since 7 May 2026, it may be worth checking whether you’re likely to benefit from the proposed changes.

While the legislation has not yet commenced, some buyers could be entitled to significant savings once the new rules are implemented.

If you’re unsure how these changes apply to your situation, or you’re currently looking to purchase your first home, feel free to reach out for a conversation.

Because sometimes the right question can save you thousands.

Indicative figures only. Savings shown are estimates based on announced thresholds and published transfer duty rates. Actual savings will depend on the final legislation, property type, purchase price, eligibility criteria and RevenueWA assessment. This information is general in nature and should not be relied upon as legal, tax or financial advice.

References

• WA Government Housing Taxation Package
• RevenueWA Transfer Duty Information
• First Home Owner Grant (FHOG) Information

Information is current as at June 2026. The proposed changes remain subject to legislation being passed and implementation by RevenueWA. Buyers should obtain independent legal, taxation and financial advice regarding their individual circumstances.

Written by Charmain Hughes

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