WHAT REIWA RECOMMENDS
Maintain existing transfer duty exemption for first-home buyers at $430,000 and reintroduce the $3000 First Home Owners Grant for the purchase of existing dwellings.
Introduce a $10,000 concession on transfer duty for seniors over the age of 65 to encourage “right-sizing” (trading in an often larger home for something that better suits their current needs).
Undertake a state tax review to assess the viability of a shift to a broadbased land tax system that ultimately removes transfer duty.
No increase to transfer duty rates or change of thresholds.
Make no further changes to rates or thresholds for land tax.