How much is Stamp Duty in Victoria?
Stamp Duty in Victoria (also known as Transfer Duty or Duty) is a tax paid to State Revenue Office Victoria upon purchase of a property.
The amount of stamp duty to be payed in Victoria, Australia depends on the type and value of your transaction.
Things on which Stamp Duty in Victoria depends
- Value of Property
- Location of Property
- Property Type – Investment or Principle place of residence
- Are you a “First Home Buyer”
- Home type – New home, Established home or Vacant land
- Eligible Pensioner Stamp Duty Exemption or Concession
- Is purchaser a foreigner?
- Type of Transaction – Paper or Electronic transaction
Stamp Duty Rate for Non Principal place of Residence
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 Value | Duty Threshold |
|---|---|
| $0 – $25,000 | 1.4 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 $960,000 | 5.5 per cent of the dutiable value |
Stamp Duty Rate for Principal Place of Residence (PPR)
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 Value | Duty Threshold |
|---|---|
| $0 – $130,000 | The 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 $550,000 | The Principal place of residence (PPR) concessional rate does not apply. |
After 1 July 2017, Victoria 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”).
Stamp Duty Rate for Foreign Purchaser
After 1 July 2019 the foreigner buyer duty surcharge increases to 8% from 7%.
Stamp Duty Exemption or Concession for Eligible Pensioners
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.
