First home buyer stamp duty exemption or concession on homes up to $750,000.00
Property value and duty benefits
In Victoria if you are a first home buyer, you can claim an exemption or concession from land transfer (stamp) duty if you meet certain criteria.
If you buy a Victorian home with a dutiable value:
- up to $600,000.00, you pay no duty, you are exempt from paying stamp duty.
- from $600,001.00 to $750,000.00, you will be entitled to a concession and pay a reduced amount of duty.
The property can be a new or established home, or vacant land intended for building your first home.
Dutiable value is the price paid for the property or its market value, whichever is greater.
- For off-the-plan purchases, dutiable value may be reduced if you are eligible for the off-the-plan concession.
- For vacant land, we assess dutiable value based only on the land itself. We do not include the value of your building contract.
Use our calculator to calculate the duty you have to pay.
If you are buying a new home valued up to $750,000.00, you may also be eligible for the First Home Owner Grant.
Eligibility criteria
Applicant eligibility criteria
Eligibility criteria for either the stamp duty exemption or concession is the same as for the First Home Owner Grant. You are not eligible if you or your spouse or partner have already owned a home or other residential property in Australia.
All purchasers must be:
- natural persons (not companies or trusts)
- at least 18 years old
- Australian citizens or permanent residents
- purchasing the property as their principal place of residence
- buying the property at market value.
Where the first home buyer is a person with a legal disability, the transferee may be the:
- guardian of the person with the disability, or
- trustee of the special disability trust where the primary beneficiary is the first home buyer.
If you are buying the property with a person who is not a citizen or permanent resident, foreign purchaser additional duty may apply.
Residency requirements
In order to qualify for either the stamp exemption or concession
At least one purchaser must:
- occupy the home as their principal place of residence
- live there for 12 continuous months within 12 months of settlement.
If you’re buying vacant land, you must move in by the earlier of:
- 12 months from when the occupancy certificate is issued, or
- 36 months from the settlement date.
If you are a current member of the Australian Army, Navy or Air Force, the residency requirement does not apply. All purchasers must be enrolled to vote in Victorian elections. This exemption does not extend to defence force reservists or to Australian Public Service staff.
If you meet all the eligibility criteria above, find out how to apply for the first home buyer duty exemption or concession.
Pensioner entitlements
If you are a pensioner, you may also be entitled to a stamp duty exemption of concession
If you are an eligible pensioner buying your first home, you may qualify for the first home buyer duty exemption or concession or the pensioner duty reduction. However, you can only claim one benefit per transaction, so you must choose one.
The pensioner and concession cardholder duty reduction is a once-only benefit, and your entitlement depends on when you signed your contract.
- Contracts signed on or after 1 July 2023 (offers the same value as the first home buyer duty exemption or concession).
- Contracts signed before 1 July 2023 (compare which benefit gives you the greater saving).
You may also be eligible for other Government Schemes
There are numerous Government Schemes designed to help you buy a home sooner
1. First Home Owner Grant (FHOG)
- Aimed at buying or building a new home (not established properties).
- Can often be paid at settlement or at first construction draw—timing depends on your lender and build contract.
2. Australian Government 5% Deposit Scheme
- Allows eligible first home buyers to purchase with as little as 5% deposit. without paying LMI, using a government‑backed place through participating lenders.
- The property must meet residence requirements.
3. Australian Government Help to Buy Scheme (Shared Equity)
- A shared equity model where government contributes a portion of the purchase price in exchange for a shared stake, reducing deposit and loan size.
- If available and applicable, we’ll assess pros/cons (impact on future equity, repayments, fees, and buy‑back rules).
4. Australian Government First Home Super Saver Scheme (FHSSS)
- Let’s you make voluntary super contributions and then withdraw them to boost your deposit—subject to caps and ATO release rules.
- Useful for disciplined saving and potential tax advantages.
5. Other pathways
- Family/Parental Guarantee: Reduce LVR and avoid LMI by securing a portion of the loan against a guarantor’s property.
- Builder/Developer incentives: Must be assessed carefully to ensure valuations and lender policy alignment.
