Self-assessing shared equity transactions involving the Housing Authority

A first home owner concessional transaction or a further concessional transaction that is entered into with the Housing Authority can be self-assessed if 100% of the interest is acquired by the buyer(s) and the contract states the consideration for that 100% interest.

See examples of shared equity transactions that:

• can be self-assessed through Online Duties
• can’t be self-assessed and must be lodged with RevenueWA for assessment.

First home owner concessional transactions

Under section 143 of the Duties Act, duty is chargeable on a first home owner concessional transaction at the applicable concessional rate (FHOR) of duty if:

• the unencumbered value of the land, or the land and home, under the transaction does not exceed the dutiable value thresholds and
• the purchasers qualify for the grant or
• the purchasers would have qualified for the grant except that
  • they purchased an established home or
  • the value of their land and home exceeded the value cap for the first home owner grant or
  • they didn't pay any consideration under the transaction or
  • they are an Indian Ocean Territories resident acquiring their first home.

For further information regarding the concessional FHOR of duty, including rates, thresholds and application process, see the ‘First Home Owner Rate of Duty’ fact sheet.

Further concessional transactions

Section 142(2) of the Duties Act defines a further concessional transaction as a transfer, or an agreement for the transfer, of a further interest in the dutiable property where:

• the acquisition of the original interests in the property were the subject of a first home owner concessional transaction (first concessional transaction)
• the further interest is being transferred from an excluded person within the meaning of section 16(1) of the FHOG Act (i.e. the Housing Authority)
• the instrument effecting the further concessional transaction is executed within 
  10 years of an instrument for the first concessional transaction and
• each transferee in respect of the further concessional transaction was a transferee in relation to the first concessional transaction.