In short: Stamp duty (land transfer duty) is a one-off state tax you pay when you buy property in Victoria, usually within 30 days of settlement. First home buyers pay no duty on homes up to $600,000 and reduced duty up to $750,000. Other owner-occupiers may get a concession on homes up to $550,000, and buyers of off-the-plan apartments, units and townhouses can get a concession on contracts signed before 21 April 2027.

You don’t need to remind first home buyers; buying property in Australia requires an enormous amount of earning and saving.

However, on top of the sale price, many buyers don’t factor in all the additional costs that come with the purchase. The most significant of these costs is usually stamp duty, potentially cutting tens of thousands away from your property budget.

To help get you better prepared for your next property purchase, here’s a comprehensive guide to stamp duty in Victoria.

What is stamp duty?

Stamp duty, or land transfer duty, is a mandatory tax to be paid when purchasing property in Victoria. Stamp duty is a one-off lump sum paid to the state government, and is required for the purchase of any form of property, including houses, apartments, commercial buildings and land.

When is stamp duty due in Victoria?

When the transaction or sale of the property is completed, you are obliged to pay land transfer duty. If you do not pay the stamp duty within 30 days of settlement, you will have to pay fines with interest.

How do I calculate stamp duty in Victoria?

The amount of duty depends mainly on the dutiable value of the property (generally the higher of the price and the market value), whether you will live in it, and whether you qualify for an exemption or concession. Duty is charged on a sliding scale, so the rate rises with the price.

Use our stamp duty calculator for an estimate, and check the current rates on the State Revenue Office website.

Who is exempt from paying stamp duty in Victoria?

Principal Place of Residence Buyers

The principal place of residence concession reduces the duty on a home valued up to $550,000 that you will live in. At least one buyer must move in within 12 months of settlement and live there for 12 months in a row.

First Home Buyers

There are stamp duty exemptions and concessions available for first-time homebuyers in Victoria.

If you buy a new or existing home with a dutiable value up to $600,000, you pay no duty. Between $600,001 and $750,000 you pay a reduced amount on a sliding scale, which you can estimate with our stamp duty calculator.

Who is eligible for the first home buyer duty exemption or concession?

• All buyers must be individuals aged 18 or over, buying at market value.

• At least one buyer must be an Australian citizen, New Zealand citizen or permanent resident.

• No buyer can have previously owned a home or received a First Home Owner Grant or first home buyer duty exemption or concession.

• At least one buyer must move in within 12 months of settlement and live there for 12 months in a row.

Concession Card Holders and Pensioners

Eligible pensioners and concession card holders pay no duty on a home valued up to $600,000 and reduced duty up to $750,000, if they will live in it. At least one eligible cardholder must own 25% or more of the property.

Off-the-Plan Homes

The off-the-plan concession lets you deduct construction costs that happen after you sign the contract, so duty is charged on a lower value. For contracts signed from 21 October 2024 until 21 April 2027, a temporary version applies to apartments, units and townhouses in a strata subdivision, for all buyers (including investors) and with no price cap. Outside that window, the standard concession applies only to owner-occupiers and first home buyers under value thresholds.

More detail is on the State Revenue Office website.

Inherited Land or Property

Property transferred to a beneficiary under a will is generally exempt from duty. Capital gains tax is not triggered when you inherit, but it may apply when you later sell, depending on how the property was used. Speak to your accountant before you decide what to do with an inherited property.

Transferring Land Among Family Members

Transferring your principal place of residence to your spouse or domestic partner is generally exempt from duty. Transfers to other family members, including gifts to children, are usually charged duty on the market value of the property.

How do I apply for a stamp duty concession?

Your conveyancer or solicitor lodges the duty forms online and claims any exemption or concession you are eligible for as part of the settlement. Make sure they know about your eligibility early, as some concessions need extra declarations.

If you want to learn more about stamp duty in Victoria and how it might apply to your individual situation, please reach out to one of our qualified mortgage brokers at Elephant Advisory.

Frequently asked questions

How much is stamp duty in Victoria?

It depends on the property value and your eligibility for concessions. As a guide, duty on a $700,000 home with no concession is roughly $37,000. Use our stamp duty calculator for your figure.

Do first home buyers pay stamp duty in Victoria?

Not on homes valued up to $600,000. Between $600,001 and $750,000 they pay reduced duty, and above $750,000 they pay full duty.

When do I pay stamp duty in Victoria?

Duty is generally due within 30 days of settlement and is usually paid through your conveyancer as part of settlement.

Last updated: 25 October 2026.

General information only. This article does not take into account your objectives, financial situation or needs, so consider whether it is appropriate for you and seek personal advice before acting. Elephant Financial Pty Ltd trading as Elephant Advisory is an authorised credit representative (ACR 487962) of Yellow Brick Road Aggregation Pty Ltd (formerly Vow Financial Pty Ltd) (ABN 66 138 789 161), Australian Credit Licence 390261.