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Last Updated: 30th January, 2024

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What Is Stamp Duty?

Stamp duty in Victoria is also called Land Transfer Duty. It is an upfront fee that the state government imposes on the buyer when acquiring property in Victoria.

How To Calculate Stamp Duty In VIC

Stamp Duty Rates For Buying A Principal Place Of Residence

These rates apply when you’re buying a home, which is also referred to as your principal place of residence.
Dutiable Value Range Rate
$0 – $25,000 1.4% of the dutiable value of the property
$25,000 – $130,000 $350 plus 2.4% of the dutiable value in excess of $25,000
> $130,000 – $440,000 $2870 plus 5% of the dutiable value in excess of $130,000
> $440,000 – $550,000 $18,370 plus 6% of the dutiable value in excess of $440,000
More than $550,000 The principal place of residence concessional rate does not apply. Please refer to the general land transfer duty rates

Stamp Duty Rates For Buying A Non-Principal Place Of Residence

Dutiable value range Rate
$0 – $25,000 1.4% of the dutiable value of the property
> $25,000 – $130,000 $350 plus 2.4% of the dutiable value in excess of $25,000
> $130,000 – $960,000 $2870 plus 6% of the dutiable value in excess of $130,000
>$960,000 – $2,000,000 5.5% of the dutiable value
More than $2,000,000 $110,000 plus 6.5% of the dutiable value in excess of $2,000,000

Stamp Duty Exemptions For First-Home Buyers In Victoria

There are concessions and exemptions available for first-home buyers.     Savings from stamp duty exemption and concession for buying property up to  million in Vic are shown side by side
  • You enter into a contract of sale to buy your first home on or after 1 July 2017. 
  • You are exempted from paying stamp duty if the value of the property is $600,000 or less. 
  • There are stamp duty concessions available if the value of the property is between $600,001 to $750,000. 
  • You must fulfil the eligibility criteria of the First Home Owners Grant. However, unlike the grant, stamp duty exemption or concession is available for either new or established homes. 
  • You must reside in your property for a continuous period of 12 months from settlement. 

VIC Stamp Duty Exemptions


What Is The Stamp Duty For Foreign Buyers In VIC?

In addition to stamp duty, a foreign buyer must also pay an additional duty rate of 8%.  Therefore, if a foreigner is buying a property in Victoria valued at $960,001 then the total duty paid would be 13.5% of the property value (5.5% stamp duty + 8% additional duty).  There are stamp-duty exemptions for foreign buyers under the following conditions: 
  • You are a New Zealand citizen with a special category visa (Subclass 444). 
  • You are a citizen or permanent resident of Australia. 
  • You are buying a home with a spouse/partner who is an Australian citizen, permanent resident or New Zealand citizen with a special category visa. 
  • Must live in the property as the principal place of residence continuously for 12 months after becoming entitled to the property. 
  • A foreigner acquires the property under a will. 
  • The property acquisition qualifies for the First Home Owners Grant. 
  • The property is transferred between partners (including if the property is transferred after a relationship breakdown).

FAQ: Stamp Duty Victoria


Are You Ready To Apply For A Home Loan?

Our mortgage brokers can assess your situation and work out if you have a large enough deposit to buy a home.

They can also clarify any questions you may have about the cost of stamp duty in Victoria, transfer fees or First Home Owners Grants.

Speak to one of our specialist mortgage brokers by calling us on 1300 889 743 or fill in our free online assessment form to find out if you’re ready to buy.