WA stamp duty: simplified lodgment arrangements to start 1 March 2011

The WA Finance Minister, Simon O'Brien, has proclaimed 1 March 2011 as the commencement date for amendments to the Duties Act 2008 (WA) to introduce simplified lodgment and payment arrangements. Mr O'Brien said the major benefit of the new arrangements will be that for most residential property transfers, a purchaser will be able to pay duty at the time a transaction is settled. Currently, purchasers are required to pay duty in advance of settlement where lenders require an endorsed transfer document to proceed with settlement.

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