First Home Buyer Stamp Duty Concessions and Exemptions in Victoria

The exemption and the concession

Victoria gives first home buyers a full exemption from land transfer duty on homes valued up to $600,000. On homes valued between $600,001 and $750,000, a concession applies on a sliding scale, so the saving reduces as the price rises toward $750,000. Above $750,000, no first home buyer duty benefit applies.

For a first home buyer under $600,000, that exemption removes a cost that would otherwise run to tens of thousands of dollars.

Who is eligible

The benefit is aimed at genuine first home buyers, so there are conditions. In general terms you need to meet requirements such as:

• You and your partner have not owned a home in Australia before
• You have not previously received a first home buyer duty benefit
• At least one buyer meets the residency requirements
• You move in and live in the home for a set minimum period
• The property value is within the threshold

You have to live in it

The first home buyer benefit is for people buying a home to live in, not an investment. You generally need to move into the property within 12 months of settlement and live there continuously for a minimum period. If you buy as an investor and rent it out, the benefit does not apply.

The First Home Owner Grant is separate

Do not confuse the duty concession with the First Home Owner Grant. The grant is a separate payment available for eligible first home buyers who buy or build a new home, subject to its own rules and value cap. You may qualify for the duty benefit, the grant, or both, depending on your circumstances and the property.

How to claim it

The duty concession is claimed as part of your conveyancing, through the State Revenue Office, at the time of settlement. Your conveyancer confirms your eligibility, completes the necessary declarations, and makes sure the concession is applied so you pay the right amount and not a cent more.

Getting this right matters. A mistake in the paperwork can mean paying duty you did not need to, or a later reassessment if the eligibility rules are not met.

Check the current figures

Thresholds and eligibility rules for first home buyers are set by the State Government and can change. Before you rely on any figure, confirm the current position with the State Revenue Office or ask Orange Legal Group to check your eligibility as part of your purchase.