First Home Buyer Stamp Duty in Victoria
In Victoria an eligible first home buyer pays no stamp duty up to $600,000, then a reducing concession applies between $600,000 and $750,000, above which full duty is charged. The home must be your principal place of residence and the concession applies to both new and established homes.
Estimated first-home duty at different prices
These are planning estimates for an eligible VIC first home buyer, using the current thresholds. Treat them as a ballpark — the exact figure depends on your circumstances and the property type, so always confirm with State Revenue Office Victoria.
| Purchase price | New build | Established | No concession |
|---|---|---|---|
| $500,000 | $0 | $0 | $27,500 |
| $600,000 | $0 | $0 | $33,000 |
| $650,000 | $13,750 | $13,750 | $35,750 |
| $700,000 | $27,500 | $27,500 | $38,500 |
| $750,000 | $41,250 | $41,250 | $41,250 |
| $850,000 | $46,750 | $46,750 | $46,750 |
“No concession” shows the approximate duty a non-first-home buyer would pay at the same price, so you can see what the first-home concession is worth to you.
Victoria's first-home duty exemption and concession
The exemption covers homes valued up to $600,000 — you pay no duty at all. Between $600,000 and $750,000 a partial concession phases the duty in, so a $700,000 home pays far less than the full schedule but more than zero. Above $750,000 the standard Victorian duty rates apply with no first-home discount.
To qualify the property must be your home (you move in within 12 months and live there for at least 12 continuous months), you must be a first home buyer, and at least one buyer must be an Australian citizen or permanent resident. The dutiable value — usually the price — is what's tested against the thresholds.
Melbourne prices push many buyers over the line
Because $750,000 is the hard ceiling, a large share of metropolitan Melbourne purchases sit above the concession band and pay full duty. The threshold rewards buyers who target under $600,000 — often units, townhouses or outer-suburb and regional houses — where the entire duty bill disappears.
Victoria also runs temporary off-the-plan concessions from time to time that can reduce the dutiable value of new apartments and townhouses. These change with each state budget, so confirm what's current before you rely on it.
Grants stack on top of the duty concession
The Victorian First Home Owner Grant pays $10,000 on eligible new homes valued up to $750,000 — separate from, and on top of, the duty concession.
In planning terms, a duty concession lowers what you need at settlement, while a grant adds cash back afterwards. Model both to see your true total cash position — the calculator handles the duty side and shows total cash needed for VIC.
This is general information, not financial or tax advice. Stamp-duty rules change with each state budget — figures are current as of July 2026. Always confirm the exact concession, grant and eligibility with State Revenue Office Victoria before you buy.
I'm a geologist-turned-builder who got frustrated with financial calculators that hand-wave how Australian tax actually works.
Every projection on MyNextDollar runs on current ATO mechanics for FY2026-27 — Stage-3 brackets, super contribution caps and HELP thresholds.
The calculation engine is covered by 88 unit tests and 10,000 fuzz scenarios, so what you see is exactly what the rules produce — not a rough estimate.