WA stamp duty changes this week - what if contract signed before budget announced?

[chrisuklfc]

Hi all,

 

My girlfriend and I have been looking at new (off the plan) apartments recently, with a view to putting a deposit down soon.

 

There seems to be a commonly held view that, when the state budget is announced in the coming days (2 pm on Thursday, I think), the existing stamp duty exemption, which is for the first $500k, is to be reduced to $400k.

 

Does anybody know if you enter a contract before the budget is released (i.e., by paying the 10% deposit to the developer and signing the contract) you will still be able to lock in the first $500k waiver?

 

Many thanks in advance.

 

Chris

[Druid]

Hi all,

 

My girlfriend and I have been looking at new (off the plan) apartments recently, with a view to putting a deposit down soon.

 

There seems to be a commonly held view that, when the state budget is announced in the coming days (2 pm on Thursday, I think), the existing stamp duty exemption, which is for the first $500k, is to be reduced to $400k.

 

Does anybody know if you enter a contract before the budget is released (i.e., by paying the 10% deposit to the developer and signing the contract) you will still be able to lock in the first $500k waiver?

 

Many thanks in advance.

 

Chris

 

We signed on the dotted line a couple of weeks ago to build a house, general consensus seems to be that nothing will change instantly, when they messed with the first home owners grant last year, they announced it at the budget, but it didn't kick in until about September ish, there was a last minute dash to buy houses to get in at the old deal

[chrisuklfc]

Great, thank you for that