Premier Roger Cook said the proposed legislation would also implement stricter licensing and storage requirements, compulsory training and health checks for firearms owners, and mandatory disqualifying offences.
 "The firearms bill modernises WA's gun licensing regime and prioritises public safety above the privilege of owning a firearm," he said on Wednesday.
"New laws will replace the current five-decades-old act and see my government unapologetically impose the strictest regulations of firearms anywhere in Australia."
Mr Cook said the amendments were the result of years of consultation with licence holders, the industry and the broader public.
WA is unapologetically imposing the nations toughest gun laws, Premier Roger Cook says. (Richard Wainwright/AAP PHOTOS)
"Farmers who use firearms to do their job, club members who use them to participate in their sport and recreational hunters who help landowners to control vermin are all accommodated for," he said.
"But some current gun owners may struggle to prove their legitimate need for a licence when the laws change."
A state government-sponsored, $64.3 million firearms buyback scheme started on Wednesday.
It will run for six months or until the money is exhausted.
Gun owners surrendering weapons will be eligible for payments of up to $1000 per weapon, depending on the type, style, calibre and initial registration date.
There are more than 360,000 licensed firearms owned by fewer than 90,000 people in WA, the government says.
Unlicensed firearms can also be surrendered without penalty or fear of prosecution, however, they will not qualify for the buyback scheme.
The Alannah and Madeline Foundation said the proposed laws were the strongest firearm reforms in Australia since the Port Arthur tragedy in 1996.
It said they would help keep the community safe from firearm violence and reduce the likelihood of criminal access to dangerous firearms but some areas could be further strengthened.
The opposition has been contacted for comment.