Understanding Land Stamp Duty in Victoria (VIC)
When purchasing a property in Victoria, one of the most significant upfront expenses is the land transfer duty, more commonly known as stamp duty. Being well-informed about this cost is essential for sound financial planning.
Stamp Duty Rates (2025)
- Up to $25,000: 1.4%
- $25,001–$130,000: $350 plus 2.4% on the amount over $25,000
- $130,001–$960,000: $2,870 plus 6% on the amount over $130,000
- $960,001–$2,000,000: 5.5%
- Over $2,000,000: $110,000 plus 6.5% on the amount over $2 million
Who Can Benefit from Concessions?
- First Home Buyers:
- No stamp duty for properties under $600,000.
- Discounted duty for homes valued between $600,000 and $750,000.
- Owner-Occupiers:
- Eligible for the same concessions as first home buyers, provided they meet the necessary criteria.
- Investors:
- No concessions are available for investors.
Important Note for Foreign Buyers
An extra surcharge of 8% is applicable if you are a foreign buyer, so be sure to factor this into your budgeting.
Additional Fees to Consider
Beyond stamp duty, you should also account for other costs such as government-mandated mortgage registration and transfer fees, as well as optional services like conveyancing and building/pest inspections.
Final Advice
Stamp duty can add tens of thousands of dollars to your purchase price. Planning ahead and using tools like the VIC government calculator can help you estimate these costs accurately. Check out the calculator here: Land Transfer Duty Calculator.
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