Stamp Duty Calculator Victoria (VIC)

What's Next?

NEW! Check the most popular property values for Victoria (detailed monthly statistics via stampdutycalc.com.au).

RP Data Monthly Housing Market Update Melbourne:

---

When is stamp duty payable in VIC?

The purchaser or transferee is liable to pay the duty.

Until 2012 duty was payable within 3 months of settlement. However on 29 November 2011 Victorian Government introduced changes to the Duties Act 2000 to reduce the period for the payment of duty. The time period for paying duty and lodging documents will be reduced from 3 months to 30 days.

For dutiable transactions (generally, this is the date of settlement) occurring before 1 April 2012, the time period for paying duty is 3 months. For dutiable transactions occurring on or after 1 April 2012, the time period for paying duty is reduced to 30 days.

Transitional period

In recognition of the change in the period for payment of duty from 3 months to 30 days, the Victorian State Revenue Office is instituting a transitional period from 1 April 2012 to 30 June 2012 which will include the following elements:

1. No penalty tax will be imposed for late payments of duty during the transitional period,
2. No premium interest will be imposed for late payments of duty during the transitional period, and
3. Market interest will be imposed on late payments of duty unless the customer (or his or her representative) is able to demonstrate that there were circumstances beyond his or her control that led to the late payment. These situations will be considered on a case-by-case basis.

---

VIC Stamp Duty FAQ

How much is the stamp duty in VIC?

Stamp duty is calculated based on the market value of your house. You might be eligible for concessions if you are first time buyer and/or buying a house as a primary residence. You need to pay extra 8% if you are foreign resident. Check the current rates below or use our calculator.

Do first home buyers pay stamp duty in VIC?

As a first home buyer you don't pay stamp duty for the property up to $600k (due to First Home Concession Rate). Then you get a discount for properties valued between $600,000 and $750,000. If property worth more than that you pay full stamp duty rates.

When is stamp duty payable in VIC?

In Victoria you must pay stamp duty within 30 days after the liability arises to pay transfer duty on the transaction.

How much is the stamp duty on a $600,000 house in VIC?

$600,000 is the most popular property value entered into our stamp duty calculator for Victoria. First Time Buyers purchasing New or Established Home for Primary Residence pay $0 stamp duty on a $600k house in VIC. And for NON-First Time Buyers stamp duty is - $31,070.

Stamp Duty Rates in Victoria

The rates of duty are different depending on when the contract to purchase property is entered into:

1. For contracts entered into on or after 6 May 2008 - The rate of duty charged is on a sliding scale down from a top rate of 5.5% for property valued at more than $960,000 to a base rate of 1.4% for properties valued at not more than $25,000.
2. For contracts entered into before 6 May 2008 - The rate of duty charged is on a sliding scale down from a top rate of 5.5% for property valued at more than $870,000 to a base rate of 1.4% for properties valued at not more than $20,000.

Below you will find VIC Stamp Duty Parameters for an Owner Occupied or First Home Owner purchase for contracts entered into on or after 6 May 2008:

Dutiable Value Range	Rate
$0 - $25,000	1.4 per cent of the dutiable value of the property
$25,001 - $130,000	$350 plus 2.4 per cent of the dutiable value in excess of $25,000
$130,001 - $440,000	$2,870 plus 5 per cent of the dutiable value in excess of $130,000
$440,001 - $550,000	$18,370 plus 6 per cent of the dutiable value in excess of $440,000
$550,001 - $960,000	$28,070 plus 6 per cent of the dutiable value in excess of $550,000
More than $960,000	5.5 per cent of the dutiable value

Below you will find the current VIC Stamp Duty Parameters for an Investment purchase for contracts entered into on or after 6 May 2008:

Dutiable Value Range	Rate
$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

For more information on Stamp Duty in Victoria please check Duties Act 2000.

Other related fees

Mortgage Registration Fee:

1. $107.60 Paper - Transaction;
2. $85.00 Electronic - Transaction;

Land Transfer Fee:

1. Paper Transaction Fee: $131.10 plus $2.46 for every whole consideration, the maximum fee is $ 1362.00.
2. Electronic Transaction Fee: $108.40 plus $2.46 for every whole consideration, the maximum fee is $1339.00.

---

Stamp Duty Victoria - exemptions and concessions

There are a number of exemptions and concession from duty available. Most common stamp duty reductions are for First Home Buyers and pensioners.

First Home Buyers

For settlement dates on or after 1 July 2011, transfer duty rates will be reduced for eligible first home buyers purchasing their principal place of residence (PPR) valued up to $600,000.

Transfer Duty will be reduced by 20 per cent on 1 July 2011, followed by additional 10 per cent cuts on 1 January 2013, 1 January 2014 and 1 September 2014, totalling a cumulative 50 per cent reduction for settlement dates on or after 1 September 2014.

Duty savings to first home buyers:

To be eligible for the duty reduction, the first home buyer must have received or be entitled to receive the First Home Owner Grant and must also reside in the property for a continuous period of 12 months commencing within 12 months of settlement.

Pensioners

Eligible pensioners are entitled to the exemption or concession. Eligible pensioners must:

• hold one of the relevant concession cards at the date of the transfer, being the settlement date.
• purchase the property for market value, and
• intend to reside in the home as their principal place of residence.

The home may be an existing home, a home built under a house and land package (where the person who sells you the land also builds the home as part of the agreed price), or a home that is built within three years of acquiring the land.

Eligible pensioners can only receive the exemption or concession once.

Which concession cards are accepted?

• Health Care Card (Centrelink)
• Repatriation Health Card
• Pensioner Concession Card
• Commonwealth Seniors Health Card

Exemption or concession thresholds for pensioners.

For contracts entered into on or after 1 July 2011 the following tresholds apply:

• the value of the land and the dwelling is not more than $330,000 – full exemption;
• more than $330,000 but less than $750,000 – partial concession on a sliding scale;
• $750,000 or more – no exemption or concession

---

2013-2014 Stamp Duty Update in Victoria

On 28th of April the Victorian Government has announced the following changes to state taxes and grants which will be included in the 2013-14 State Budget:

First Home Buyer Grant

From 1 July 2013, the First Home Owner Grant (FHOG) will increase from $7000 to $10,000 for newly constructed homes under $750,000. To be eligible to this FHOG increase first-home buyers need to enter into a contract to purchase or build a new home on or after 1 July 2013.

Existing FHOG on the purchase of an established home will conclude on 1 July 2013. To receive the FHOG on an established home, you must enter a contract to purchase the home on or before 30 June 2013. This brings Victoria into line with New South Wales, Queensland and South Australia.

First Home Buyer Duty Reduction

The duty reduction available for eligible first-home owners of both newly constructed and established homes will increase to 40 per cent from 1 July 2013 for homes valued up to $600,000. A further 10 per cent duty reduction will be implemented from 1 September 2014 for eligible first-home buyers, increasing total duty savings to 50 per cent.

---

2017 Stamp Duty Update in Victoria

New First Home Buyer Stamp Duty rates from 1 July 2017

The Victorian Government has announced they'll legislate new stamp duty concession for First Home Buyers.

For properties $600,000 and under there will be no stamp duty. For properties between $600,001 and $750,000 there will be a reduced stamp duty on a sliding scale, regardless of whether they are new or established homes.

At this stage there is no information on the formula to be used, so this calculator can't be updated just yet. However please find the following table from examples which have been published below:

Dutiable value	Duty after concession
$600,000	$0
$605,000	$1,046
$625,000	$5,428
$650,000	$11,357
$675,000	$17,785
$700,000	$24,713
$725,000	$32,142
$745,000	$38,444
$750,000	$40,070

Once the formula for the new rates has been made available we'll update the calculator to reflect the new rates. (Already updated!)

Stamp Duty Calculator VIC

If you want to compare stamp duty in Victoria with other states please use our stamp duty calculator.