WA brings in build-to-rent incentives

• Containing at least 40 self-contained dwellings available for residential leases of at least three years.
• Being owned by the same owner or group of owners and managed by the same management entity.
• Being completed between 12 May 2022 and 30 June 2032.

Owners will be liable for retrospective land tax that would apply if an eligible build-to-rent development stops meeting the criteria within the first 15 years after the exemption is granted.

The exemption is available from the 2023–24 assessment year, and owners of eligible build-to-rent developments who have already paid land tax for 2023–24 can apply for the exemption. If approved, they will receive a refund of the land tax paid.

In welcoming the passage of the new law, Western Australian Treasurer Rita Saffioti said the government is “doing everything we can to boost housing supply, and this legislation is another great incentive to get this happening”.

Planning Minister John Carey commented: “This is an important piece of legislation as the Cook government continues to do everything we can to accelerate the delivery of housing throughout WA.”

He noted that the state is also investing $3.2 billion in housing and homelessness measures alongside the incentives for home building.

Finance Minister Sue Ellery encouraged developers to take advantage of the tax relief, calling the legislation “a win for the local rental market”.

“Our government remains committed to ensuring we boost the supply of rentals now and into the future,” she said.

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