Stamp Duty Changes in Victoria from July 1

Some changes to stamp duty coming in Victoria from July 1st, 2021 - stamp duty discounts introduced last year are due to finish up and also stamp duty will increase by 1 percentage point on properties that sell for more than $2 million.

Stamp Duty Discounts

Stamp duty discounts were introduced by the Victorian government last year for the properties with a dutiable value of up to $1 million to help stimulate the market during the coronavirus pandemic:

  • 50% land transfer duty discount for for new residential properties;
  • 25% land transfer duty discount for for existing residential properties;
  • 25% land transfer duty discount for for vacant residential land.

If you are buying your first home, stamp duty concessions introduced in mid-2017 will continue - those purchasing homes under $600,000 are fully exempt from paying stamp duty, and those purchasing homes up to $750,000 are able to claim a partial concession. Check our stamp duty calculator to calculate those.

Premium Stamp Duty in VIC

The Victorian Budget 2021-22 announced by the Treasurer includes new "premium" stamp duty rate for properties valued of $2 million or more. It increased by 1 percentage point – from 5.5 per cent to 6.5 per cent.

Here's the difference in stamp duty you will need to pay if you buy after July 1:

Dutiable Value

Duty payable BEFORE July 1

Duty payable AFTER July 1