You pay duty when you buy property in Victoria.
Key information
When you acquire property, you must pay land transfer duty, commonly known as stamp duty. You must pay duty before the property transfer can be registered, usually at settlement.
This includes property bought or sold at auctions or private sales.
It also includes when you acquire property in some other way, such as through a gift, lease, trust, change in beneficial ownership, economic entitlements or land use entitlements.
You may also have to pay duty on sub-sales.
The amount of duty you pay depends on:
- the value of the property
- whether the property is your home
- whether you are eligible for any exemptions or concessions
- whether you are a foreign purchaser.
Exemptions and concessions
Home buyers may be eligible for the:
- first home buyer duty exemption or concession on homes up to $750,000
- off-the-plan duty concession when you sign a contract before construction has finished
- principal place of residence duty concession on homes up to $550,000
- pensioner duty exemption or concession on homes up to $750,000.
Other exemptions and concessions include:
- an exemption for the family farm
- an exemption for transfers from a deceased owner to beneficiaries
- an exemption for transfers between partners and spouses
- a concession if you buy property in regional Victoria for commercial, industrial or extractive industry use
- an exemption or concession for young farmers buying their first farm
- an exemption for transfers involving someone with a disability or special disability trusts
- a concession for corporate consolidations and reconstructions
- an exemption for charities
- first home buyer relief after family violence.
Calculate your duty
Land transfer duty is calculated on the dutiable value of your property. This is usually the price you paid for the property (or its market value if that is more).
The rate of duty is a sliding scale. You pay a higher rate of duty on a more expensive property.
There are different rates depending on whether you are buying a home that will be your principal place of residence.
- Lower rates apply if the property will be your home and the dutiable value is $550,000 or less. See principal place of residence rates.
- General rates apply for homes valued at over $550,000 and investment properties and holiday homes. See non-principal place of residence rates.
- If you are a foreign purchaser, you pay additional duty of 8%.
Calculate land transfer (stamp) duty
Pay your duty
Your conveyancer, solicitor or bank normally pays duty on your behalf via Duties Online. All property transfers require a Digital Duties Form, even if exempt. This form includes any exemptions or concessions you are claiming.
They can give you a duty statement to show how much duty you have paid.
If you do not pay your duty within 30 days of settlement, penalty tax and interest may apply.
Your obligations
If we discover you gave us false or misleading information, or do not meet the requirements for an exemption or concession, you will have to pay any duty you owe.
You may also have to pay penalty tax and interest.
Overpaid duty
If you believe you paid too much duty, you can apply for a reassessment. For example, you were eligible for an exemption or concession but didn’t claim it.
You must apply within 5 years. If we agree, we will refund you.
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