GEN City of Joondalup’s Citizenship Ceremony at Joondalup Resort. Liberal leader Basil Zempilas.
URGENT UPDATE: Opposition Leader Basil Zempilas has just announced ambitious plans for “genuine taxation reform” aimed at resolving Western Australia’s escalating housing crisis. As the state grapples with skyrocketing property prices, Zempilas is pushing for substantial changes to stamp duty, a move he believes is essential for first-homebuyers facing mounting challenges.
During a press conference earlier today, Zempilas confirmed that his party, the Liberal Party, will prioritize tax reform ahead of the next state election. He stated, “We will take something substantial and significant forward to the next election.” While specific details remain under wraps, Zempilas emphasized the urgency of addressing the housing emergency impacting residents across the state.
Currently, first-homebuyers in the Perth and Peel regions are exempt from paying stamp duty on purchases up to $500,000 and face reduced rates for homes valued up to $700,000. However, with Perth’s median house price approaching $1 million, these thresholds have become far less effective. Zempilas advocates for linking the duty-free threshold to the median house price, a reform that has gained traction among various property groups.
The Liberal leader accused the current Cook Government of neglecting necessary reforms. He stated, “The State Government has not been serious about genuine taxation reform.” Zempilas pledged that his party would bring forward substantial proposals to the electorate, signaling a commitment to tackling the housing crisis head-on.
In contrast, Housing Minister John Carey has defended the government’s cautious approach, warning that hasty changes could exacerbate the affordability crisis. “It’s important that governments act responsibly,” Carey remarked in January. He expressed concerns that poorly targeted adjustments could drive home prices even higher, further distancing them from the reach of first-time buyers.
Zempilas’ call for reform has resonated with many in the property sector. REIWA President Suzanne Brown supports the need for more flexible stamp duty thresholds, arguing it is critical for improving housing affordability for families.
As pressure mounts on the government to respond, Zempilas’ proposals could reshape the landscape of homeownership in Western Australia. The next steps will see the Liberal Party formalize their policy as they gear up for the upcoming election, with Zempilas vowing to keep housing affordability at the forefront of their agenda.
Stay tuned for further developments as the political climate heats up and the stakes for homebuyers continue to rise.
