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Victorian Stamp Duty: How Much Will You Pay? (2025 Rates & Calculator)

|6 min read

Pre Contract Review editorial team

Victorian property contract specialists

Published:

Reviewed against Sale of Land Act 1962 (Vic) s32

Stamp duty — officially called land transfer dutyin Victoria — is a state government tax you pay when you buy property. It's one of the biggest upfront costs in any property purchase, and understanding exactly how much you'll owe is essential for budgeting.

How stamp duty works

Stamp duty is calculated on the dutiable value of the property, which is generally the purchase price or the market value — whichever is higher. The rate is progressive, meaning you pay different percentages on different portions of the price, similar to income tax brackets.

Current rate brackets (2024–25)

The general stamp duty rates for property purchases in Victoria are:

  • Up to $25,000 — 1.4% of the dutiable value
  • $25,001 to $130,000 — $350 plus 2.4% of the amount over $25,000
  • $130,001 to $960,000 — $2,870 plus 6.0% of the amount over $130,000
  • $960,001 to $2,000,000 — flat rate of 5.5% of the total dutiable value
  • Over $2,000,000 — 6.5% of the total dutiable value

Note: These rates are subject to change. Always check the current rates on the State Revenue Office website before making financial decisions.

First home buyer exemption and concession

If you're a first home buyer purchasing a property valued at $600,000 or less, you are fully exempt from stamp duty — you pay $0.

For properties valued between $600,001 and $750,000, a sliding scale of concessions applies. The concession decreases as the property value increases, and at $750,001 the concession disappears entirely.

To qualify, you must:

  • Be an Australian citizen or permanent resident
  • Be at least 18 years old
  • Have never owned property in Australia (including through a company or trust)
  • Move into the property within 12 months and live there for at least 12 continuous months

For more on first home buyer benefits and what else to expect, see our first home buyer's guide.

Principal place of residence concession

If you're not a first home buyer but you're purchasing a home to live in (not an investment property), you may qualify for the principal place of residence (PPR) concession. This applies to properties valued up to $550,000 and provides a reduced duty rate compared to the general rate.

Foreign purchaser surcharge

Foreign purchasers (non-residents and temporary visa holders) pay an additional 8% surcharge on top of the standard stamp duty. On a $700,000 property, this adds $56,000 to the duty payable — a significant additional cost.

The surcharge applies to both residential property purchases and transfers. Some exemptions exist for Australian permanent residents and certain visa categories.

When do you pay?

Stamp duty must be paid within 30 days of settlement(not the contract signing date). Your solicitor or conveyancer will typically arrange payment as part of the settlement process. If you don't pay on time, interest and penalties apply.

Example calculations

Here's what a general buyer (not a first home buyer) would pay at three common price points:

$500,000 property

Duty = $2,870 + 6.0% of ($500,000 − $130,000) = $2,870 + $22,200 = $25,070

$700,000 property

Duty = $2,870 + 6.0% of ($700,000 − $130,000) = $2,870 + $34,200 = $37,070

$900,000 property

Duty = $2,870 + 6.0% of ($900,000 − $130,000) = $2,870 + $46,200 = $49,070

These are approximate figures for general buyers. First home buyers, PPR concession holders, and foreign purchasers will pay different amounts.

Use the stamp duty calculator

For an estimate specific to your situation, use the stamp duty calculator built into your Pre Contract Review report. It factors in first home buyer exemptions, concessions, and the foreign purchaser surcharge to give you a personalised estimate alongside your contract analysis.

For a full picture of all the costs involved in buying property beyond stamp duty, see our guide on the hidden costs of buying property in Victoria.

Frequently asked questions

How much is stamp duty in Victoria?

Victorian stamp duty (officially land transfer duty) is calculated on the dutiable value of the property, typically the contract price. For an owner-occupier residential purchase, rates start at 1.4% on properties under $25,000 and rise to 5.5% plus $44,000 base for properties over $960,000. A $700,000 owner-occupier purchase pays approximately $37,070.

Do first home buyers pay stamp duty in Victoria?

First home buyers in Victoria pay no stamp duty on properties up to $600,000 (full exemption) and a sliding-scale concession on properties from $600,001 to $750,000. Above $750,000, the standard rate applies. The buyer must use the property as their principal place of residence for at least 12 months starting within 12 months of settlement.

When is stamp duty paid in Victoria?

Stamp duty is paid at settlement, alongside the property transfer. Your conveyancer or solicitor calculates the duty using the State Revenue Office (SRO) calculator, lodges the assessment, and pays the duty as part of the settlement disbursements. The buyer provides the funds in their settlement statement.

Are foreign buyers charged additional stamp duty in Victoria?

Yes. Foreign buyers pay an additional 8% Foreign Purchaser Additional Duty on top of standard stamp duty. The surcharge is in addition to the FIRB application fee (typically $14,700–$265,500+ depending on property value) and the annual vacancy fee for properties not occupied or rented.

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Disclaimer: This article is for general information only and does not constitute legal advice. You should always seek independent legal advice from a qualified solicitor or conveyancer before making any property purchase decision.

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