For back-to-back premierships
It took until the 23rd minute but Peel finally got on the board through Josh Deluca.
The Thunder then had their second barely a minute later when Taberner got on the end of a pass from Pearce after he had broken from the centre bounce.
Taberner converted his second for the match and suddenly it was a one-point ball game.
Taylin Duman drew first blood in the last quarter when he toed through his first of the match after being set-up by a long kick from Taberner.
Wheeler put Subiaco back in front when he slotted from 35m out after a nice build up from his Lions teammates.
Jetta showed the Thunder were committed, winning a holding the ball free kick and finishing with a composed checkside to give the Thunder a slender fourpoint lead.
Not to be outdone, Sheridan delivered a similar finish from the same pocket after Hayden Kennedy was pinged for punching the ball out of bounds deliberately. Logue put the icing on the cake, kicking a goal on the siren.
Subiaco secured its 17th reserves premiership after a 19point win over South Fremantle earlier in the afternoon.
The Lions kept the minor premiers scoreless in the final term and put through two goals of their own to win 13.6 (84) to 10.5 (65).
Dylan Clarke kicked five goals, gathered 23 possessions, put the ball inside 50 five times and laid five tackles to claim the Merv McIntosh medal.
In the colts, East Fremantle scored a crushing grand final win over Claremont by 54 points, 12.5 (77) to 2.11 (23).