Estimate Your First Home Buyer Duty Savings
See how much eligible Victorian first home buyer duty relief could potentially reduce your upfront property purchasing costs.
Turn First Home Buyer Eligibility Into Real Savings
Compare ordinary duty with eligible first home buyer relief to see the difference it could make upfront.
- Estimate your potential first home buyer duty saving.
- See whether an exemption or partial concession may apply.
- Better understand the upfront costs of purchasing your first home.
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Victorian First Home Buyer Savings FAQs
Buying your first home comes with specific Victorian duty benefits. Here is what determines whether you can access them.
What stamp duty benefit is available to Victorian first home buyers?
Eligible first home buyers purchasing a qualifying Victorian home with a dutiable value of up to $600,000 can receive a full land transfer duty exemption. A concession applies from $600,001 to $750,000.
What happens if the property costs exactly $600,000?
Provided all eligibility criteria are satisfied and the property’s dutiable value is no more than $600,000, an eligible first home buyer can receive a full duty exemption.
What happens between $600,001 and $750,000?
Eligible buyers receive a reduced amount of land transfer duty rather than a complete exemption. The concession progressively reduces as the property’s dutiable value approaches $750,000.
Can the benefit apply to vacant land?
Yes. The Victorian first home buyer duty exemption or concession can apply to eligible vacant land intended for the construction of the purchaser’s first home, subject to the relevant requirements.
Can an off-the-plan concession affect my first home buyer saving?
Potentially. For an eligible off-the-plan purchase, the dutiable value may first be reduced under applicable off-the-plan concession rules, which can affect the duty calculation.
Is the First Home Owner Grant the same as stamp duty savings?
No. The First Home Owner Grant and first home buyer duty exemption/concession are separate benefits. Eligibility for one does not automatically establish eligibility for the other.
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Let our conveyancing team help you understand your contract, available duty benefits and the path towards settlement.