FIRST HOME OWNERS STAMP DUTY CONCESSIONS: YOUR ULTIMATE GUIDE

Since July 1, 2017, First Home Owners Stamp Duty Concessions have been applied to eligible applicants who are purchasing their first home. It was a way for the Victorian Government to help out our aspiring homeowners to get them into the market. 

But, what exactly is a stamp duty concession Victoria? What does stamp duty apply to? What are the eligibility requirements? In this article, I will be discussing everything you need to know about stamp duty concessions. I will take you through everything step by step, by the end of this article you should have a better understanding of what stamp duty actually is and how it applies to you.

First Home Owners Stamp Duty Concession Victoria: What Is It?

Stamp duty is a payment you make to a state or territory government when buying a property. It is generally calculated based on the value of the property. 

In Victoria, you may be eligible for, and receive more than one stamp duty concession, reduction, or exemption for your property. These include:

• First-home buyer duty concession. This is a one-off duty exemption for a principal place of residence (PPR) valued up to $600,000, or a concession for a PPR with a value from $600,001 to $750,000. This duty concession is separate from the First Home Owner Grant. Note that the grant is a payment made to you; on the other hand, the first home buyer duty concession is a reduction in the amount of land transfer duty that you pay.
• Pensioner concession. For concession card holders buying a home to live in, there is no duty on homes valued up to $600,000 and a concession from $600,001 to $750,000 (contracts signed on or after 1 July 2023). It can only be used once.
• Principal place of residence (PPR) concession. A duty concession for any buyer purchasing a home valued up to $550,000 that you move into within 12 months of settlement and live in for at least 12 months.
• Off-the-plan concession. For off-the-plan strata apartments and townhouses, with contracts signed between 21 October 2024 and 20 October 2026. Construction costs after the contract date are excluded from the value you pay duty on.

Figures checked against SRO Victoria on 26 September 2026. Use the SRO stamp duty calculator for your own figures.

Stamp Duty Eligibility Requirements for First Home Buyers 

To be eligible for the First Home Buyer Stamp Duty concession, you need the ff:

• Your home has a dutiable value of $600,000 or less (first home buyer duty exemption) or $600,001 to $750,000 (first home buyer duty concession).
• All property buyers meet the First Home Owner Grant eligibility criteria and at least one buyer satisfies the residency requirement[1].

 

Note: Unlike the First Home Owner Grant, it does not matter whether you purchase a new or established home.

 

Stamp Duty Concession Takeaway

Stamp duty varies between states and territories. For more information about stamp duty concession Victoria, don’t hesitate to contact me for assistance. I’d be happy to help you better understand whether or not you’ll be eligible for duty concessions.