About 4.55pm, police were called to a disturbance at an Amelia Street home and found a 41-year-old man with serious injuries from a stab wound.
He was taken to Royal Perth Hospital by St John Ambulance, where he later died.
A police spokesman said the man knew the victim.
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READ NOWThe Balcatta man, charged with murder, was remanded in custody and will appear at Perth Magistrates Court on May 25.
Anyone with information regarding this incident is asked to call Crime Stoppers on 1800 333 000.