Stamp Duty Calculator Victoria

If you’re thinking of purchasing a property in Victoria, you can get an estimate on the total stamp duty amount you’ll need to pay by using our stamp duty calculator. Stamp duty, also known as land transfer duty, is a government charge you will have to pay when buying a property in Victoria whether it be for residential, commercial or investment purposes.

Calculations valid for 2020-2021 financial year

Includes duty discounts for first home buyers but does not include state or federal grants

Some states may give further discounts or exemptions in certain circumstances

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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

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Victoria Stamp Duty FAQs

What determines the amount of stamp duty I pay?

When it comes to stamp duty, there are a number of factors that will determine your total amount, like:

  • The value of the property
  • The property type (investment or primary residence)
  • Whether you are a first home buyer
  • If the property is on vacant land

Once you fill in these details our calculator will automatically give you a result while taking into account of any concessions and exemptions you qualify for.

How is stamp duty calculated in Victoria?

Stamp duty is calculated based on the property’s value, so the more pricier the property, the higher your stamp duty will be. The current rates for stamp duty in Victoria are:

Source: State Revenue of Victoria, General Land Transfer

Is stamp duty the same in other states?

Stamp duty charges are set by state governments, which means they're different from state to state. But never fear, we've got calculators tailor made to crunch the numbers on stamp duty all over Australia. Check them out below.

Stamp duty calculator NSW

Stamp duty calculator Tasmania

Stamp duty calculator Queensland

Stamp duty calculator South Australia

Stamp duty calculator Western Australia

Stamp duty calculator ACT

Stamp duty calculator Northern Territory

I’m a first home buyer, do I have to pay stamp duty?

First home buyers do pay stamp duty, but they are eligible for various stamp duty exemptions and concessions in Victoria, which include:

  • Stamp duty exemption if the dutiable value of the property is less than $600,000
  • Stamp duty concession if the dutiable value of the property is between $600,000 to $750,000

To provide financial relief for first home buyers, the Victorian government launched the First Home Owners Grant (FHOG). If purchasing a property worth $750,000 in regional Victoria, first home buyers could receive a grant of up to $20,000. If the property is not in regional Victoria, the grant is $10,000.

In order to be qualify for the grant, concessions or exemptions, there is a certain criteria that must be met. For instance, you will not be eligible if you or your partner:

Have already received the FHOG

Have already owned a home or other residential property before July 1 2000

Have lived in a home in Australia, which either of you owned or part-owned after July 1 2000 for continuous period of at least 6 months

Are there any stamp duty exemptions or concessions for other types of buyers?

Stamp duty concessions and exemptions are also available to other buyers in Victoria, which include:

  • Young farmers - There is a one-off stamp duty exemption for young farmers buying their first farm land property.
  • Family farms - There is a stamp duty exemption for the transfer of a family farm, however, this will depend on the class of land, the status of the parties involved and the nature of the transfer.
  • Charities and societies - Depending on the charity or society, there may be certain stamp duty exemptions.
  • Transfers between spouses or partners - There is a stamp duty exemption for transfers between partners or spouses, including if the transfer is occuring because of the breakdown of a relationship.
  • Corporate consolidation/reconstruction - Whether a corporate group reorganises its business structure or if corporate groups form a single entity for tax purposes by interposing a company between existing head trust or shareholders.
  • Deceased estates - There is a stamp duty exemption on a land transfer by the executor of a deceased person to a beneficiary.

What if I’m a foreign buyer, do I pay stamp duty?

Yes, in fact since July 1 2016, Victoria has an additional duty rate of 7% to foreign buyers looking to purchase residential property. So say for instance, you are a foreign purchaser buying a investment property worth $700,000, you would also be expected to pay $75,543, compared to a regular first home buyer who would only pay $26,543.

Are there any other fees associated with stamp duty?

Yes, when you pay for stamp duty, you’ll also have to pay a transfer and mortgage registration fee. A transfer fee involves moving the title of the property over to the new owner, while a mortgage registration fee is the cost of creating the documents once you sign up to your home loan.

Is stamp duty only applicable to Victorian residents?

No, stamp duty is applicable to all Australian states. However, there are differences between each state, which offer different concessions and exemptions to buyers. 

Who do I pay stamp duty to in Victoria?

You will need to pay your stamp duty to the Victorian State Revenue Office. Stamp duty is recognised as a tax in Victoria, so the money will be passed onto the Victorian Government, which will then be put back into public sectors, like roads and transport and emergency services.

In Victoria, you are able to pay for stamp duty two ways, they are:

  • BPAY
  • Electronic funds transfer (EFT)

When do I have to pay stamp duty?

Stamp duty in Victoria must be paid within 30 days of the property being transferred and is usually the day of settlement. If you fail to pay the duty during this time, you may have to pay a tax penalty and interest.

Will I get a refund if I have overpaid my stamp duty?

If you believe that you have overpaid your stamp duty, you are able to claim a refund for up to five years after the date the duty was paid.

You will first need to complete a refund form, which can be accessed on the Victorian State Revenue Office site. Either you or a representative or agent can complete do this. Once you have requested a refund, it can take up to 60 days for a decision to be made.

What are the other costs will I need to prepare for when buying a home?

Your home may be the largest expense you ever have, which is why in addition to shopping around for a home loan, it’s important to budget for a number of other one-off and ongoing costs that will arise once you buy your first home. They are:

  • Property valuation fee - This is a cost that covers an expert providing an estimation of the property’s worth by taking down its details.
  • Building inspection fee - This is a charge that also involves an expert who will determine whether the property meets the building code requirements.
  • Loan establishment fee - This is a fee that is charged to set up the documentation and files needed once your home loan is approved.
  • Pest inspection fee - To keep your property free from termites or termite damage, you’ll also need a pest inspection.
  • Home Insurance - One of the ongoing costs you’ll have once you own a property is home and contents insurance. But while you may not have to worry about having contents insurance right away, home insurance may be a requirement on your mortgage contract.

If you’re planning to purchase a property in Victoria, there are a number of things you’ll need to do long before moving day. Other than paying for stamp duty, you’ll also need to choose a home loan that best suits your needs and for many borrowers, finding a competitive interest rate is a top priority. Our Home Loans Interest Rates page can help take the hassle out of finding the right interest rate for you.