Treasurer Rita Saffioti stands by stamp duty after WA Government collects $2 billion bonanza

The State Government raked in more than $2 billion in stamp duty over six months, new figures show, following a massive boost of almost $500 million compared with the same period a year previously. The State received $2.034b in stamp duty in the six months to December last year, up from $1.558b in the six months to December 2024 — an increase of $476m. And while housing has overtaken the cost of living as the issue most concerning to WA voters — according to the DemosAU poll — the State Government has ruled out using the extra funds for further stamp duty exemptions. Treasurer Rita Saffioti said the Cook Government had already expanded stamp duty relief for downsizers and other buyers who purchase a new apartment, townhouse, villa or unit, either off the plan or under construction. She stood by WA’s stamp duty threshold for downsizers, as her Labor counterparts in South Australia promise to scrap the duty for downsizers aged 60 and older who sell their family home and purchase a newly built or off-the-plan property valued at up to $2m. She said the Government had already lifted stamp duty exemption thresholds by $100,000 for dwellings purchased off the plan, with no duty for dwellings up to $750,000, tapering to a 50 per cent concession above $850,000. Concessions also apply to dwellings purchased while under construction. “These changes applied to apartments and also included townhouses on strata plans for the first time, helping to further boost housing density, increase housing choice and providing more options for seniors to downsize,” Ms Saffioti said. She said housing was a strong focus for the Government, with more than $1.8b committed to additional housing initiatives in the 2025/26 State Budget. Property Council executive director Nicola Brischetto called on the Government to use the revenue to aid new developments in getting off the ground. “The financial viability of constructing multi-home projects, such as apartments and townhouses, remains one of the biggest challenges in solving our housing crisis,” Ms Brischetto said. “Just a fraction of the $2 billion stamp duty revenue raised in the first six months of this financial year could tip the financial viability scales of scores of proposed projects across the State. This could be done through relatively small, strategic and targeted grants or loans.” Ms Brischetto called for an expansion of the eligibility criteria and the size of payments under the Infrastructure Development Fund.