WA to axe mortgage duty

Western Australia will axe stamp duty on mortgages, hiring transactions and non-real business property taxes. The changes mean a borrower taking out a $300,000 mortgage will save $750. Families spending $500 a year on DVD rentals will save about $7.50. Home buyers will still be forced to pay stamp duty, which on a median priced home in Perth is about $12,000.

Advertisement