Stamp Duty Calculator VIC
DISCLAIMER: IMPORTANT INFORMATION ABOUT OUR STAMP DUTY CALCULATORS
The calculator on this website is offered for informational purposes only, serving to demonstrate possible scenarios. The results generated by the calculator are intended solely as a general guide and an estimation, founded upon the data you have supplied. It is essential to understand that reliance on the calculator for making legal or financial decisions is not advised.
The outcome provided by this tool is not a replacement for expert consultation and should not be interpreted as professional counsel. It is important to consider obtaining independent legal, financial, taxation, or other advice that pertains to your particular situation.
Broker Circle Pty Ltd exercises due diligence in the creation and maintenance of this calculator; nevertheless, we do not guarantee the accuracy or suitability of the information provided for your specific circumstances, nor do we suggest any specific course of action based on these calculations. The calculator is configured for purchasing owner-occupied homes only and its use is not intended for land purchases or investment properties. Be aware that additional fees and charges may apply.
Last updated: 5 August 2023. BrokerCircle's calculator reflects the updates for the 2023-2024 financial year.
Frequently asked questions
Everything you need to know about Victoria stamp duty
What does stamp duty cost in Victoria?
In Victoria, stamp duty is tiered based on the property's purchase price.
For properties valued under $550,000, there are unique rates applicable to owner-occupiers, referred to as principal place of residence (PPR) concessions.
For properties above $550,000, standard land transfer duty rates come into play.
Here's a snapshot of the PPR rates:
Up to $25,000: 1.4% of the property's value
$25,001 - $130,000: $350 plus 2.4% of the value over $25,000
$130,001 - $440,000: $2,870 plus 5% of the value over $130,000
$440,001 - $550,000: $18,370 plus 6% of the value over $440,000
$550,001 - $960,000: $2,870 plus 6% of the value over $130,000
$960,001 - $2,000,000: 5.5% of the property's value
Above $2,000,000: $110,000 plus 6.5% of the value over $2,000,000
Investment properties are exempt from these rates.
What are other necessary upfront fees in property transactions?
Besides government levies like mortgage registration and land transfer fees (refer to our calculator for specifics), you may encounter additional costs such as legal conveyancing and property inspections.
Do first home buyers receive any concessions in Victoria?
Indeed, there are significant reductions in stamp duty for first home purchases under $750,000. For homes below $600,000, this stamp duty is completely waived. This concession considers:
- Prior property ownership status
- Residency histories and requirements
- Minimum age and citizenship criteria
- Compliance by all parties, even non-applying partners, with eligibility criteria
Do not confuse this with the First Home Owner Grant, which targets brand-new properties.
Does a foreign ownership surcharge apply in Victoria?
Yes, foreign purchasers incur an additional 8% duty. Exemptions are provided for Australian citizens, permanent residents, and New Zealand citizens holding a special category visa.
Are there additional fees for property transfer?
Transfer fees are separate from stamp duty and are scaled to the property's value, maxing out at $3,607.
Defining Principal Place of Residence (PPR)?
A PPR is where you plan to reside within a year post-settlement and maintain as your main residence for at least a year. In joint purchases, at least one owner must satisfy the residency criteria.
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