Stamp Duty Victoria 2026: Exemptions & Savings

Stamp duty can add tens of thousands of dollars to a property purchase. But did you know that many Victorian buyers end up paying more than they need to? That’s because there are several stamp duty exemptions in Victoria that can significantly reduce what you owe, or even eliminate it entirely.

Stamp duty (officially called “land transfer duty”) is a one-off state government tax you pay when property changes hands. It’s calculated on the property’s value, and it applies to everything from a first apartment to a commercial warehouse.

The good news? In 2026, there are exemptions and concessions available for first home buyers, pensioners, off-the-plan purchasers, and more – including the temporary off-the-plan concession, which has been extended to 20 October 2026. 

This guide covers every current exemption category, the eligibility criteria, and how BT Legal can help you make sure you’re not leaving money on the table.

Key Takeaways:

• First home buyers pay $0 stamp duty on properties valued at $600,000 or less, with a sliding concession up to $750,000.
• The temporary off-the-plan concession has been extended to 20 October 2026 and is available to all buyers – including investors.
• Eligible pensioners and concession cardholders may qualify for a full exemption or reduced rates.
• Stamp duty must be paid within 30 days of settlement. Late payments attract penalties and interest.
• Your solicitor or conveyancer applies all eligible stamp duty exemptions as part of the conveyancing process.

What Is Stamp Duty in Victoria?

Stamp duty (or land transfer duty, as it’s formally known) is a tax paid to the Victorian State Revenue Office (SRO) whenever you buy or acquire property. It applies to residential homes, investment properties, vacant land, and commercial property.

The amount you pay is based on the property’s “dutiable value,” which is the higher of the purchase price or its market value. Rates are calculated on a progressive sliding scale – the more expensive the property, the higher the duty.

It’s a one-off cost, but it can be a significant one. On a $700,000 home, for example, stamp duty could be upwards of $37,000 unless you qualify for an exemption or concession.

Stamp duty is typically due within 30 days of settlement. For most transactions using electronic settlement (PEXA), the duty is automatically transferred to the SRO at settlement – your solicitor or conveyancer handles this as part of the process.

Stamp Duty Rates in Victoria – Quick Overview

Here’s a simplified summary of the general (non-PPR) stamp duty rates currently in effect for contracts entered into on or after 1 July 2021:

Dutiable Value	Rate
$0 – $25,000	1.4% of the dutiable value
$25,001 – $130,000	$350 + 2.4% of value above $25,000
$130,001 – $960,000	$2,870 + 6% of value above $130,000
$960,001 – $2,000,000	5.5% of the dutiable value
Over $2,000,000	$110,000 + 6.5% of value above $2,000,000

A few additional notes worth knowing:

• Principal place of residence (PPR) buyers may qualify for a concessional rate on properties valued between $130,000 and $550,000.
• Foreign purchasers pay an additional 8% surcharge on top of the standard rates.
• Lower or nil rates may apply depending on your eligibility for exemptions (covered below).

For an exact figure, use the SRO’s official stamp duty calculator or ask BT Legal for a personalised estimate as part of your conveyancing quote.

Who Qualifies for Stamp Duty Exemptions in Victoria?

Several categories of buyers can access full exemptions or concessions that significantly reduce stamp duty. Below is every current category of stamp duty exemptions in Victoria for 2026.

First Home Buyer Stamp Duty Exemption

This is the most common stamp duty exemption in Victoria, and it can save first home buyers tens of thousands of dollars.

Full exemption: If you’re buying your first home and the property’s dutiable value is $600,000 or less, you pay $0 stamp duty.

Concession: For properties valued between $600,001 and $750,000, you’ll receive a reduced rate on a sliding scale. The closer the value sits to $750,000, the smaller the concession.

To qualify, you must:

• Be a natural person (not buying through a company or trust)
• Be an Australian citizen or permanent resident
• Have never previously owned property in Australia (including your spouse or partner)
• Move into the property within 12 months of settlement and live there for at least 12 continuous months
• Be enrolled to vote in Victorian elections

This is a one-off benefit. If you or your partner have previously claimed it, you can’t claim it again on another purchase.

It can also be combined with the First Home Owner Grant (FHOG) – a $10,000 grant for new homes valued at $750,000 or less.

If you’re purchasing your first home, BT Legal’s residential conveyancing team will ensure every eligible concession is applied during your transaction.

Off-the-Plan Stamp Duty Concession (Extended to October 2026)

This is one of the biggest stamp duty exemptions in Victoria right now – and it’s not just for first home buyers.

The Victorian Government has extended the temporary off-the-plan concession to 20 October 2026 (following Royal Assent of the State Taxation Acts Amendment Act 2025). It applies to purchases of apartments, units, and townhouses in strata subdivisions with common property.

• Who qualifies: All buyers – first home buyers, owner-occupiers, investors, companies, and trusts. There’s no price threshold, so it applies to properties of any value. You don’t need to live in the property.

• How it works: When you buy off the plan, the concession lets you subtract construction costs incurred after the contract date from the dutiable value. Stamp duty is then calculated on the reduced amount.

• Example: Say you buy an off-the-plan apartment for $620,000, and the vendor confirms that $465,000 of that price relates to construction costs. Your dutiable value drops to $155,000 ($620,000 minus $465,000). Instead of paying approximately $32,000 in stamp duty, you’d pay around $3,470. That’s a saving of roughly $28,500.

And if you’re a first home buyer, you could stack this with the first home buyer exemption. In the example above, a dutiable value of $155,000 would sit well under the $600,000 threshold – meaning you’d pay $0 stamp duty.

Importantly, the contract of sale must be signed between 21 October 2024 and 20 October 2026 to qualify. It doesn’t matter when you settle – eligibility is based on when you sign.

Principal Place of Residence (PPR) Concession

This concession is available to any home buyer (not just first timers) who is purchasing a property to live in as their main home.

If the property’s dutiable value is between $130,000 and $550,000, you may qualify for reduced stamp duty rates compared to the standard (non-PPR) table. Above $550,000, the standard rates apply.

To be eligible, you must move into the property within 12 months of settlement and live there for at least 12 continuous months.

This concession can’t be combined with the first home buyer exemption – you’ll use whichever gives you the better outcome.

Pensioner and Concession Card Holder Reduction

Eligible pensioners and approved Commonwealth concession cardholders may qualify for a once-only duty reduction when buying a home to live in.

For contracts signed on or after 1 July 2023, the pensioner concession offers the same value as the first home buyer exemption or concession:

• Properties valued at $600,000 or less may attract a full exemption
• Properties valued between $600,001 and $750,000 may receive a concession

At least one purchaser must hold an eligible pension card, and the property must be used as your principal place of residence.

If you’re a pensioner buying your first home, you can choose between the pensioner reduction and the first home buyer exemption – but you can only claim one per transaction.

Spousal or Partner Property Transfers

Transferring property to a spouse or domestic partner may be exempt from stamp duty, provided certain conditions are met. Both parties generally need to live in the property, and the transfer must not be part of a commercial arrangement.

For more details on related party transfers, speak with BT Legal’s property team.

How to Calculate Your Stamp Duty in Victoria

Stamp duty is calculated on the “dutiable value” of the property – whichever is higher out of the purchase price and the property’s market value.

The easiest way to get an estimate is to use the SRO’s official stamp duty calculator. It factors in the type of property, whether it’s your principal place of residence, and your eligibility for various concessions.

In practice, your solicitor or conveyancer handles the duty calculation and applies any eligible concessions when completing the Digital Duties Form as part of the electronic conveyancing process.

BT Legal calculates and applies all eligible stamp duty exemptions and concessions as a standard part of our conveyancing service – you won’t need to navigate the SRO system yourself.

Common Stamp Duty Mistakes That Cost Victorian Buyers Thousands

We see these errors come up regularly, and they can be expensive:

• Missing the off-the-plan deadline. The temporary concession only applies to contracts signed before 20 October 2026. Miss that date and you lose access to potentially tens of thousands in savings.

• Not applying for the first home buyer exemption. It doesn’t happen automatically – it needs to be claimed through the Digital Duties Form during conveyancing. If your solicitor doesn’t apply for it, you’ll pay full stamp duty.
  
• Failing to meet the 12-month residency requirement. If you don’t move in within 12 months or don’t stay for a continuous 12 months, you can lose your exemption or concession – and you’re required to notify the SRO.
  
• Not realising it’s a one-off benefit. The first home buyer exemption and the pensioner reduction are each available once only. If you or your partner have already claimed one, you can’t claim it again.
  
• Buying through a trust or company. Most personal stamp duty exemptions (first home buyer, PPR, pensioner) aren’t available when purchasing through a company or trust structure. This catches some buyers off guard.
  
• Not getting professional advice. Stamp duty rules are detailed and the stakes are high. A qualified solicitor can make sure every dollar you’re entitled to save is actually saved.

How BT Legal Helps with Stamp Duty Exemptions in Victoria

BT Legal’s property solicitors identify and apply every stamp duty exemption and concession you’re entitled to as part of your conveyancing. It’s built into our service – not an optional extra.

We handle the Digital Duties Form, the SRO lodgement, and make sure everything complies with the relevant deadlines and eligibility requirements. Whether you’re a first home buyer, pensioner, investor, or need off-the-plan conveyancing support, or investor, we tailor our advice to your specific situation.

Our conveyancing service includes fixed, transparent pricing and solicitor-guaranteed work. No surprises, no hidden fees.

Ready to find out what you could save? Contact us for a free conveyancing quote that includes a stamp duty assessment tailored to your purchase.

Frequently Asked Questions About Stamp Duty in Victoria