Stamp Duty

As part of the transaction process you are required to pay stamp duty on top of the purchase price in the State of Victoria.

Stamp Duty – Non Principal place of Residence Rate
For the purchase of any other property (i.e. not Principal place of residence) for contracts entered into on or after 6 May 2008.

Dutiable ValueDuty Threshold
$0 – $25,0001.4 per cent of the dutiable value of the property
> $25,000 – $130,000$350 plus 2.4 per cent of the dutiable value in excess of $25,000
> $130,000 – $960,000$2,870 plus 6 per cent of the dutiable value in excess of $130,000
More than $960,0005.5 per cent of the dutiable value

Stamp Duty – Foreign Purchaser:
After 1 July 2019 the foreigner buyer duty surcharge increases to 8% from 7%.

Stamp Duty – Principal Place of Residence (PPR) Rate
For the purchase of a home (which will be used as Principal place of residence) for contracts entered into on or after 6 May 2008.

Dutiable ValueDuty Threshold
$0 – $130,000The Principal place of residence (PPR) concessional rate does not apply.
> $130,000 – $440,000$2,870 plus 5 per cent of the dutiable value in excess of $130,000
> $440,000 – $550,000$18,370 plus 6 per cent of the dutiable value in excess of $440,000
More than $550,000The Principal place of residence (PPR) concessional rate does not apply.

Stamp Duty – First Home Buyer Concession after 1 July 2017

VIC abolishes stamp duty for both new and existing properties under $600,000. First home buyers purchasing a property between $600,000 and $750,000 also receive a tapered discount.

If a first home buyer purchases vacant land to build a new home to be their principal place of residence, the home must be built within 12 months for the FHB concessions to apply (choose “Yes” for the Option “Are you first home buyer”). If the buyer takes more than 12 months to build the home, they are not eligible for the First Home Buyer Concession (choose “No” for the Option “Are you first home buyer”).

Eligible pensioners are entitled to the exemption or concession. The calculation & formula used in the calculator for the Pensioner and first home owner exemptions and concession can be found in the Victoria Duties Act 2000, amendments as at 1 July 2011.

Mortgage Registration Fee 2020 – 2021:
(a) Paper Transaction: $119.70 (b) Electronic Transaction: $110.80

Land Transfer Fee:
(a) Paper Transaction Fee: the sum of $98.50 plus $2.34 for every whole consideration, the maximum fee is $3,609.00
(b) Electronic Transaction Fee: the sum of $89.50 plus $2.34 for every whole consideration, the maximum fee is $3,600.00

First Home Owner Grant: The First Home Owner Grant (FHOG) has increased from $10,000 to $20,000 for new homes built in regional Victoria (see below) and valued up to $750,000.

Property Location for First Home Owner Grant

Grant $20,000Grant $10,000
Alpine ShireBanyule City
Ararat Rural CityBayside City
Ballarat CityBoroondara City
Bass Coast ShireBrimbank City
Baw Baw ShireCardinia Shire
Benalla Rural CityCasey City
Buloke ShireDarebin City
Campaspe ShireFrankston City
Central Goldfields ShireGlen Eira City
Colac Otway ShireGreater Dandenong City
Corangamite ShireHobsons Bay City
East Gippsland ShireHume City
Gannawarra ShireKingston City
Glenelg ShireKnox City
Golden Plains ShireManningham City
Greater Bendigo CityMaribyrnong City
Greater Geelong CityMaroondah City
Greater Shepparton CityMelbourne City
Hepburn ShireMelton City
Hindmarsh ShireMonash City
Horsham Rural CityMoonee Valley City
Indigo ShireMoreland City
Latrobe CityMornington Peninsula Shire
Loddon ShireNillumbik Shire
Macedon Ranges ShirePort Phillip City
Mansfield ShireStonnington City
Mildura Rural CityWhitehorse City
Mitchell ShireWhittlesea City
Moira ShireWyndham City
Moorabool ShireYarra City
Mount Alexander ShireYarra Ranges Shire
Moyne Shire
Murrindindi Shire
Northern Grampians Shire
Pyrenees Shire
Borough of Queenscliffe

Disclaimer: Please note this content is a guide only, and all information should be verified and professional advice sought before relying upon this information. Last updated 15/10/2020