In Victoria you pay stamp duty, or land transfer duty, when you purchase a home or investment property. It can costs tens of thousands of dollars, but there are concessions and exemptions to help keep costs down for first home buyers.
VIC stamp duty calculator
Use this calculator to get an estimate of your stamp duty costs on a property in Victoria. Select VIC in the input box to ensure you get the right calculation. This is just an estimate not an exact calculation.
How to use the VIC stamp duty calculator
Enter your property value (or an estimate).
Pick VIC as your state/territory.
Select Live-in (if you're buying a home), Investment (for an investment property) or Vacant land (if building on a vacant lot).
If you've never owned a home before select Yes for First Home Buyer (you may get a stamp duty discount).
How is stamp duty calculated in Victoria?
Many would-be homebuyers don't realise that they'll have to pay stamp duty. Buying a home in Victoria could cost you tens of thousands of dollars in land transfer duties.
The amount of duty payable is calculated on a sliding scale, starting at 1.4% for properties whose dutiable value is $25,000, and going up to 5.5% for properties with a dutiable value of $960,000 and above.
Dutiable value range
Duty payable
Up to $25,000
1.4% of the dutiable value of the property
$25,001 to $130,000
$350 plus 2.4% of the dutiable value in excess of $25,000
$130,001 to $960,000
$2,870 plus 6% of the dutiable value in excess of $130,000
$960,001 to $2,000,000
5.5% of the dutiable value
Above $2,000,000
$110,000 plus 6.5% of the dutiable value in excess of $2,000,000
The dutiable value of the home basically just means the purchase price of the property. But if you're selling a property at discount (say, to a family member) then the dutiable value is based on the market value. That's the price the property would sell for on the open market.
Rates of stamp duty may vary if:
You’re a foreign buyer.
You’re a first home buyer.
The property is going to be your primary residence or an investment property.
You’re buying land or an existing dwelling.
You’re buying the property or taking possession of it in another way (e.g. receiving it as a gift, inheriting the property).
You are entitled to other exemptions and concessions.
Are there stamp duty concessions for first home buyers in Victoria?
There’s a range of land transfer duty concessions and complete exemptions that are available.
Ongoing stamp duty exemption for first home buyers
On an ongoing basis, first home buyers in Victoria may be exempt from stamp duty on eligible purchases.
You, and your partner if applicable, must both qualify as first home buyers and be Australian citizens or permanent residents. New Zealanders on a special category visa are also eligible.
Eligible purchases
The full exemption only applies to homes with a dutiable value up to $600,000. For homes valued at $600,000 to $750,000, you can still get a partial exemption.
You must be buying your principal place of residence, so the discount is not available on investment purchases. This means you need to live in it for at least 12 continuous months, starting within 12 months of taking possession.
Here are some examples of how the Victorian stamp duty concession can help you reduce your stamp duty costs:
Purchase price
First Home buyer exemption and concession
$500,000
$0
$550,000
$0
$625,000
$5,428
$650,000
$11,356
$675,000
$17,758
$700,000
$24,713
$725,000
$32,141
Stamp duty is subject to changes so please use the above as a guide only.
Are there any other stamp duty concessions or exemptions in Victoria?
Land transfer duties are also exempt for:
Land transfers from deceased persons to their beneficiaries
Transfers between spouses and partners, including transfers after breakups, such as part of a divorce settlement
Certain corporate consolidations or reconstructions
Other concessions include:
Off-the-plan purchase concessions
Pensioner duty exemptions or concessions
Charity and friendly society concessions
Young farmer exemptions or concessions
Learn more about each exemption:
This is an additional concession for off-the-plan buyers of a land and building package, or a refurbished lot.
Since 1 July 2017, this has only been available for the purchase of a home that meets the requirements of the PPR concession or gets a first home buyer duty exemption/concession.
Essentially, it’s a different way of calculating the dutiable value, to facilitate the valuation of homes still under construction or renovation, and make sure that off-the-plan buyers can also get the exemptions or concessions to which they’re entitled.
Eligible pensioners buying a home valued at up to $750,000 to use as their principal place of residence (PPOR) may be eligible for duty concessions or exemptions.
You must:
Hold an eligible concession card at the property settlement date
Have never received this concession before
Buy the property at market value
Intend to live in the home as your PPOR
Eligible concession cards are:
Department of Human Services (DHS) Health Care Card
Department of Veterans’ Affairs (DVA) Health Care Gold Card
DHS Commonwealth Seniors Health Card/DVA Commonwealth Seniors Health Card
A charitable organisation may be exempt from paying land transfer duties on land purchases. Eligible organisations include those:
Whose operations are predominantly charitable
Without any possibility of private profit during operation or at wind-up
The organisation’s constitution or memorandum of association must clearly include clauses which state that the organisation satisfies these requirements.
A one-off duty exemption or concession is available to young farmers who are buying their first farmland property valued at less than $750,000. The following criteria apply:
Young farmers are those under the age of 35.
Farmland valued at less than $600,000 receives a duty exemption on the first $300,000.
Farmland valued from $600,000 to $750,000 receives a duty concession.
This concession cannot be used in conjunction with the PPOR concession. If eligible for both, you can choose which of the two to use.
You’re still eligible for this concession even if you or your partner currently owns, or has previously owned, non-farmland in the past. However, you are not eligible if either of you has been a shareholder or beneficiary of a trust that owns or has previously owned farmland.
How do I claim a Victorian stamp duty concession or exemption?
You can apply for an exception or concession through Victoria’s State Revenue Office.
How and when do I have to pay stamp duty?
You must complete a Digital Duties Form online to pay your land transfer duty. You can do this as a homebuyer, or your conveyancer will do it for you. You will need to register online and verify your identity.
The State Revenue Office of Victoria recommends that you complete the form and payment "at least 30 days before settlement."
This means you must have saved your stamp duty and have the funds ready to pay for it at around the same time that you save your deposit. You can not add the cost of stamp duty to your home loan.
Do I have to pay stamp duty upfront or can I pay it in instalments?
You're generally better off paying your land transfer duty upfront if you can. It is possible to set up a payment plan lasting up to 12 months, but you will be charged interest at the "market rate" plus 8%. That's a hefty rate and could see you pay a significant amount of interest.
For instance, your stamp duty bill could have an interest rate attached to it valued at around 4%. Add on the 8% margin and that's 12% interest. On stamp duty of $15,000, this would add $1,800 to your stamp duty bill.
More questions about stamp duty in Victoria
If you think you’ve paid too much duty, you can request a reassessment of duty paid within five years of the purchase. If it’s found that you paid too much duty, you can receive a refund on the amount paid.
Yes. A lot of people will be eligible for more than one concession.
Yes, but only if the contract for the transfer of property was entered into on or after 1 July 2017. You can get reassessed and refunded if you’ve overpaid, but if the exemption or concession wasn’t around at the time of purchase, you didn’t overpay.
Yes. Even if you didn't pay a cent for the property, the state charges stamp duty based on the market value of the property. This is a fair estimate of what the property would sell for on the market.
You should talk to a conveyancer if you need help with a property transaction between family members.
Yes. The dutiable value here includes the property, as well as the goods purchased along with it.
Other charges may be incurred for land tax and various administrative fees. Land tax is a separate tax with its own separate concessions. You will need to pay any outstanding land tax on a property before you can take possession of it.
As an authority on all things personal finance, Sarah Megginson is passionate about helping you save money and make money. She is an editor and money expert with 20 years’ experience and an extensive background in property and finance journalism. Sarah holds ASIC RG146-compliant Tier 1 Generic Knowledge certification, and she's a regular media commentator, appearing weekly on TV (Sunrise, Daily, Studio 10, nightly news), radio (KIIS FM, Triple M, 3AW, 2GB, 6PR) and in digital and print media.
I’m a pensioner and have to downsize. I am intending to shift into a retirement village not by choice but for my own safety.
Cost of accomodation is $759,000 would this amount attract Stamp Duty noting
that I am a pensioner. Having to pay stamp duty would limit choices so much.
Eliza
If you’re buying a lease on a retirement village unit you may be exempt from stamp duty. But if you’re buying the unit itself and it has a title then you may have to pay stamp duty. There are some exemptions depending on where you live.
You should definitely talk to your conveyancer before signing any contracts.
Hi. I have a current property with my wife. My wife has inherited a block of land in MacCrae Victoria. We are going to build a new home on this block and sell our current property. My wife’s name is on the MacCrae title. We want to add my name onto this title. Will I have to pay stamp duty?
Adding a name to the property title can incur stamp duty. There are exemptions for spouses, so this may apply in this case. But this exemption only applies on a principal place of residence. If you are planning to sell your existing home and live in the new one, then you should satisfy that requirement too.
Hi,
I am buying an investment property from my brother and I’m over 65 but not registered for the pension. Are there any stamp duty concessions available to me?
Thanks
Thanks for your comment and I hope you are well. Upon reviewing the information above, the only concession you can take advantage of is the Pensioner duty exemption or concession. You can apply for this through the State Revenue Office in Victoria.
Hope this helps and feel free to reach out to us again for further assistance.
If i purchased a property in Jan 2017 and paid stamp duty – and i would like to purchase another in 2020 > the property i purchased in 2017 was my first and i didnt receive any first home buyer benefits or concessions. Am i able to receive any exemptions and benefits to stamp duty or FHOG on my next property?
Thanks for your comment and I hope you are doing well. Given that you are buying your second property, this means that the First Home Buyer benefits won’t apply. Hope this helps and feel free to reach out to us again for further assistance.
Amicable separation.
Property currently owned outright in joint names.
Title to be trasferred to one of current joint names and to be used a principal place of residence.
Property value approx $1M
Any stamp duty concessions apply?
There are a few stamp duty exemptions and concessions possible for your situation:
1. Transfers between spouses and partners, including transfers after breakups such as part of a divorce settlement
2. The principal place of residence (PPR) concession is for properties with dutiable values up to $550,000, where the purchasers intend to use the property as their permanent residence. This means living there for a continuous period of at least 12 months after taking possession of the property.
You can apply for duty or concession through Victoria’s State Revenue Office. Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
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I’m a pensioner and have to downsize. I am intending to shift into a retirement village not by choice but for my own safety.
Cost of accomodation is $759,000 would this amount attract Stamp Duty noting
that I am a pensioner. Having to pay stamp duty would limit choices so much.
Eliza
Hi Eliza,
If you’re buying a lease on a retirement village unit you may be exempt from stamp duty. But if you’re buying the unit itself and it has a title then you may have to pay stamp duty. There are some exemptions depending on where you live.
You should definitely talk to your conveyancer before signing any contracts.
Kind regards,
Richard
Hi. I have a current property with my wife. My wife has inherited a block of land in MacCrae Victoria. We are going to build a new home on this block and sell our current property. My wife’s name is on the MacCrae title. We want to add my name onto this title. Will I have to pay stamp duty?
Hi Steve,
Adding a name to the property title can incur stamp duty. There are exemptions for spouses, so this may apply in this case. But this exemption only applies on a principal place of residence. If you are planning to sell your existing home and live in the new one, then you should satisfy that requirement too.
You can find more information here https://www.sro.vic.gov.au/spouse-and-partner-exemption. And I suggest talking to a conveyancer to get more personal and professional advice.
All the best,
Richard
Hi,
I am buying an investment property from my brother and I’m over 65 but not registered for the pension. Are there any stamp duty concessions available to me?
Thanks
Hi Theodore,
Thanks for your comment and I hope you are well. Upon reviewing the information above, the only concession you can take advantage of is the Pensioner duty exemption or concession. You can apply for this through the State Revenue Office in Victoria.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
If i purchased a property in Jan 2017 and paid stamp duty – and i would like to purchase another in 2020 > the property i purchased in 2017 was my first and i didnt receive any first home buyer benefits or concessions. Am i able to receive any exemptions and benefits to stamp duty or FHOG on my next property?
Hi Abdul,
Thanks for your comment and I hope you are doing well. Given that you are buying your second property, this means that the First Home Buyer benefits won’t apply. Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
Amicable separation.
Property currently owned outright in joint names.
Title to be trasferred to one of current joint names and to be used a principal place of residence.
Property value approx $1M
Any stamp duty concessions apply?
Hi Bill T,
Thanks for your question.
There are a few stamp duty exemptions and concessions possible for your situation:
1. Transfers between spouses and partners, including transfers after breakups such as part of a divorce settlement
2. The principal place of residence (PPR) concession is for properties with dutiable values up to $550,000, where the purchasers intend to use the property as their permanent residence. This means living there for a continuous period of at least 12 months after taking possession of the property.
You can apply for duty or concession through Victoria’s State Revenue Office. Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.
Best,
Nikki