A state government sponsored firearms buyback in Western Australia will begin next week.
The $64.3 million scheme starts on February 21 and run for six months or until the money is exhausted, the Labor government said on Wednesday.
The timing of the buyback coincides with the introduction of a new firearms bill to state parliament.
"The changes will see WA introduce the most robust management of firearms in the country," Premier Roger Cook said.
"This will also mean the state will be ready and equipped to participate in a national firearms registry."
The new laws mean WA will become the first state in Australia to introduce a limit on the number of firearms an individual can own.
Other key changes include tougher storage requirements, mandatory firearms training and health checks, new licence types, reform of the written authority system, and the introduction of mandatory disqualifying offences.
There are more than 360,000 licensed firearms owned by fewer than 90,000 people in WA, the government says.
Under the voluntary buyback, all WA firearm licence holders can get compensation for surrendered firearms, regardless of whether law changes impact their licence.
The payment schedule is based on current retail baseline valuations, similar to those used in the 1996-97 Commonwealth buyback.
The schedule outlines the amount payable following surrender of a firearm, dependant on type, style, calibre, and initial registration date.
Firearms can be surrendered at any WA Police station.
Unlicensed firearms can also be surrendered without penalty and without fear of prosecution, however, they will not qualify for the buyback scheme.
