First home buyer stamp duty exemption and concession
Eligible Victorian purchases with a dutiable value up to $600,000 are exempt. Above $600,000, relief tapers to zero at $750,000. Above that limit, this first home buyer benefit is unavailable; other relief requires separate assessment.
New and established homes can qualify. Vacant land and off-the-plan purchases need extra checks. Dutiable value is generally the greater of the price paid and market value, with special treatment for eligible transactions.
Who can qualify?
Check age, citizenship or residency, ownership history and benefits previously received by you or your partner. Generally, at least one purchaser must move in within 12 months of settlement and live there continuously for 12 months. Special rules and exceptions apply.
Put the duty estimate into your buying budget
Choose a property price you want to test, then work through the total funds required. Keep a separate allowance for moving and unexpected expenses.
- Estimate your purchase deposit and loan amount.
- Calculate duty with Victoria and the appropriate buyer details selected.
- Add conveyancing, inspections, registration, lender costs and settlement adjustments.
- Keep a financial buffer rather than committing all your savings.
Compare two purchase budgets
For an illustrative $600,000 purchase, a 10% deposit is $60,000 and the remaining purchase funding is $540,000. This arithmetic does not establish loan approval or include buying costs. Add the assessed duty and other costs before deciding whether your savings are sufficient.
For a $650,000 purchase, the same 10% deposit assumption becomes $65,000, with $585,000 remaining to fund. Recalculate duty for the higher value rather than carrying forward the lower-price estimate. A higher price can affect both your deposit and other upfront costs.
How do you apply?
Your conveyancer or solicitor normally handles the claim through the Digital Duties Form as part of the transfer. Have your contract and title information ready. If you later cannot meet the residency conditions, notify the SRO in writing within 30 days of becoming aware.
Build your first home buying plan
Bring your savings, income details and target property price to a conversation with Chris Berry. Together, you can review your deposit, estimated purchasing costs and potential home loan options before you make your next move.
Common questions
Questions first home buyers ask
Do first home buyers pay stamp duty in Victoria?
Some qualify for an exemption, some receive a concession and others pay the normal amount. Check the value thresholds and eligibility above before allowing for duty in your budget.
Is stamp duty included in my deposit?
Treat them as separate budget items. Your deposit contributes to the purchase price; duty is a transaction cost. Check the total funds required before committing your savings.
Can I use a calculator result as my final figure?
A calculator helps you compare scenarios. Confirm the transaction’s final duty treatment with your conveyancer or solicitor before relying on it at settlement.
Where should I compare other first home buyer support?
Use our government schemes guide to compare the types of support, then follow the official program links. Keep each program’s eligibility check separate from your lending assessment.