VIC stamp duty rates
SRO Victoria charges land transfer duty on a sliding scale that rises with the property's value. These are the rates the calculator uses, as SRO Victoria publishes them.
| Dutiable value | Duty |
|---|---|
| $0 to $25,000 | 1.4% of the dutiable value |
| Over $25,000 to $130,000 | $350 plus 2.4% of the dutiable value in excess of $25,000 |
| Over $130,000 to $960,000 | $2,870 plus 6% of the dutiable value in excess of $130,000 |
| Over $960,000 to $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 |
| Dutiable value | Duty |
|---|---|
| $0 to $25,000 | 1.4% of the dutiable value |
| Over $25,000 to $130,000 | $350 plus 2.4% of the dutiable value in excess of $25,000 |
| Over $130,000 to $440,000 | $2,870 plus 5% of the dutiable value in excess of $130,000 |
| Over $440,000 to $550,000 | $18,370 plus 6% of the dutiable value in excess of $440,000 |
Stamp duty on a $700,000 and $800,000 home in Victoria
The table shows what different buyers pay in Victoria at two common prices. Change the price, buyer and property type in the calculator above to see your own figure.
| Buyer | $700,000 | $800,000 |
|---|---|---|
| Owner-occupier or investor | $37,070 | $43,070 |
| First home buyer (new or established home) | $24,713 | $43,070 |
| Foreign purchaser, including the 8% surcharge | $93,070 | $107,070 |
How stamp duty is calculated in Victoria
Find the band the dutiable value falls in and apply its rate. A $700,000 purchase at the general rate falls in the “Over $130,000 to $960,000” band ($2,870 plus 6% of the dutiable value in excess of $130,000):
$2,870 + 6% × $570,000 (the amount above $130,000) = $37,070
The dutiable value is the price you pay, or the property's market value if that is higher. Concessions then reduce or remove the duty, and a foreign purchaser surcharge is added on top.
First home buyer stamp duty in Victoria
Eligible first home buyers pay no land transfer duty on a home valued up to $600,000, and reduced duty from $600,001 to $750,000. The property can be a new or established home, or vacant land to build your first home on, where only the land is valued. On a $700,000 home the duty falls from $37,070 to $24,713, and the saving shrinks evenly to nothing at $750,000.
| Dutiable value | Duty for an eligible first home buyer |
|---|---|
| Up to $600,000 | None |
| $600,001 to $750,000 | Reduced duty |
| Over $750,000 | Full duty at the general rate |
SRO Victoria says every buyer must be a natural person aged 18 or over, buying at market value as their home, and at least one must be an Australian citizen, New Zealand citizen or permanent resident. You can't claim if you or your partner have:
- already received a First Home Owner Grant or a first home buyer duty exemption or concession
- owned a home in Australia before 1 July 2000
- owned and lived in a home in Australia for 6 months in a row on or after 1 July 2000.
Living in it: the residence rule
At least one buyer must move in within 12 months of settlement and live there for 12 months in a row. If you buy vacant land, you must move in by the earlier of 12 months after the occupancy certificate is issued and 36 months after settlement. Current members of the Army, Navy or Air Force don't have to meet the residence rule if every buyer is enrolled to vote in Victoria. A new home valued up to $750,000 may also qualify for the First Home Owner Grant; our first home buyer schemes and grants guide covers it.
Principal place of residence concession
Any buyer, not only a first home buyer, gets lower rates on a home they will live in that is valued over $130,000 and up to $550,000. It also applies to vacant land you'll build your home on, valued on the land alone. You must move in within 12 months of settlement and live there for 12 months in a row.
| Dutiable value | Standard rate | Concession rate | Saving |
|---|---|---|---|
| Over $130,000 to $440,000 | $2,870 plus 6% of the amount over $130,000 | $2,870 plus 5% of the amount over $130,000 | 1% of the amount over $130,000 |
| Over $440,000 to $550,000 | $2,870 plus 6% of the amount over $130,000 | $18,370 plus 6% of the amount over $440,000 | $3,100 |
Do pensioners pay stamp duty in Victoria?
Eligible pensioners and concession card holders get a one-off duty reduction on a home they will live in. For contracts signed from 1 July 2023 it matches the first home buyer relief: no duty on a home valued up to $600,000, and reduced duty from $600,001 to $750,000. To estimate it, tick First home buyer in the calculator, because the amounts are the same.
You must hold an approved concession card at settlement, pay market value and live in the home. A pensioner buying a first home can claim this reduction or the first home buyer benefit, not both, and SRO Victoria only grants the reduction once.
Off-the-plan concession
If you buy off the plan, the dutiable value can exclude construction costs incurred after you sign. A temporary concession for contracts signed from 21 October 2024 and before 21 April 2027 is open to any buyer of an apartment, unit or townhouse in a strata subdivision with common property, at any value. Outside it, the concession is for buyers who qualify for the first home buyer or principal place of residence relief. Your vendor works out the reduced value, so the calculator doesn't model it.
Foreign purchaser additional duty
Foreign purchasers pay additional duty of 8% of the dutiable value on residential property (contracts from 1 July 2019), on top of land transfer duty. On a $700,000 investment that is $56,000, for a total of $93,070. The principal place of residence rates can still apply to a foreign purchaser's home, but the first home buyer relief needs at least one buyer who is an Australian or New Zealand citizen or a permanent resident.
When is stamp duty due in Victoria?
Duty must be paid before the transfer can be registered, which usually means at settlement. Your conveyancer or solicitor normally pays it through SRO's Duties Online, and every transfer needs a Digital Duties Form, even an exempt one. If duty isn't paid within 30 days of settlement, penalty tax and interest may apply.
What the calculator leaves out
- Land titles registration and transfer fees, which are charged separately.
- Off-the-plan, pensioner and other special concessions, and purchases split between eligible and ineligible buyers.
- Mixed-use, commercial and primary production property.
For a formal figure, use the SRO Victoria land transfer duty calculatoror ask your conveyancer. Stamp duty is paid from your own money in most cases, so add it to the deposit you need: ourfirst home buyer schemes and grants guide covers the deposit side, and themortgage repayment calculator shows what the loan will cost.
VIC stamp duty questions
How much is stamp duty on a $700,000 house in Victoria?
$37,070 at the general rate, which applies to homes over $550,000 whether you live in them or not. An eligible first home buyer pays $24,713, and a foreign buyer $93,070 including the 8% additional duty.
How much is stamp duty on a $800,000 house in Victoria?
$43,070: $2,870 plus 6% of the $670,000 above $130,000. First home buyer relief stops at $750,000, so there is no concession at this price.
Do pensioners have to pay stamp duty in Victoria?
Not on a home valued up to $600,000, if they hold an approved concession card at settlement and will live in the home. From $600,001 to $750,000 the duty is reduced, by the same amounts as the first home buyer concession. It is a once-only benefit.
Do first home buyers pay stamp duty in Victoria?
No duty up to $600,000 and reduced duty up to $750,000, on a new or established home or land to build on, if you meet SRO Victoria's eligibility and residence rules.
What is the principal place of residence concession?
Lower duty rates for anyone buying a home to live in valued over $130,000 and up to $550,000. It saves up to $3,100: a $500,000 home costs $21,970 instead of $25,070.
When do you pay stamp duty in Victoria?
At settlement, through your conveyancer. Penalty tax and interest may apply if it isn't paid within 30 days of settlement.
