First Home Buyer Stamp Duty Concession & Exemption – Victoria

Buying your first home in Victoria?
You may be eligible for a stamp duty concession or full exemption under the Victorian Government’s First Home Owner benefits — helping you save thousands on your first property purchase.

The First Home Owner Stamp Duty Concession (VIC) helps eligible first-home buyers reduce upfront costs when purchasing a property in Victoria.

What is the First Home Buyer Stamp Duty Concession in Victoria?

When you buy a home in Victoria, you normally pay stamp duty (land transfer duty).
But if you’re a first-home buyer, you could pay less or even no stamp duty, depending on your home’s value.

There are two main benefits:

Full exemption — Pay no stamp duty if your home is valued at $600,000 or less.
Concession — Receive a discounted rate of duty if your home is valued between $600,001 and $750,000.

This applies to:

Established homes
Newly built homes
Vacant land to build your first home on

Who is eligible for the First Home Buyer Concession or Exemption in Victoria?

To qualify, you must meet all of the following:

Be 18 years or older.
Be an Australian citizen or permanent resident, or buying with someone who is.
Plan to live in the property as your principal place of residence for at least 12 continuous months within 12 months of settlement.
Not have previously owned residential property in Australia, either solely or jointly.
Not have previously claimed a First Home Owner concession or exemption in the past.

If buying with a partner, both parties must meet these conditions.

How much stamp duty can first home buyers save in Victoria?

Here’s how the savings work under the current Victorian thresholds:

Up to $600,000 – Full exemption (pay $0 stamp duty).
$600,001 – $750,000 – Sliding-scale concession applies.
Above $750,000 – No concession or exemption.

Example:
If you buy your first home for $650,000, you’ll receive a partial concession and pay significantly less than the standard duty rate.

How to apply for the First Home Owner Concession or Exemption (VIC)

You don’t have to apply separately — your conveyancer or solicitor can handle this for you when lodging the property transfer with the State Revenue Office (SRO).

You’ll need to provide:

Proof of citizenship or permanent residency.
A signed First Home Buyer Statement form confirming your intention to live in the property.
Details of your property purchase and settlement.

Once approved, the SRO automatically applies your concession or exemption during settlement.

Can first home buyers combine the stamp duty concession with other grants in Victoria?

Yes – you can combine this benefit with several other first-home programs:

First Home Owner Grant (FHOG): $10,000 for new homes valued up to $750,000.
Homebuyer Fund: The shared-equity scheme is closed to new applicants.
Home Guarantee Scheme: A Federal program letting eligible first-home buyers purchase with as little as a 5% deposit, no LMI required. (Separate from state concessions and FHOG.)

Your conveyancer can confirm which combination best fits your situation.

Common mistakes to avoid

Misunderstanding the eligibility thresholds

Many buyers think the exemption applies up to $750,000 - when it actually applies up to $600,000, with a concession from $600,001 - $750,000.

Not knowing the home must be your principal place of residence

If you don’t move in within 12 months and live there for at least 12 months, you may lose your concession or face penalties.

Assuming all first-home buyers automatically qualify

Investors, trusts, companies, and non-residents are generally NOT eligible.

Not applying for the concession before settlement

Missing paperwork can delay settlement or result in paying full stamp duty upfront.

Do you need a lawyer or conveyancer?

While it’s not legally required, having a qualified conveyancer or property lawyer is strongly recommended. They provide:

Legal Protection

Transaction Management

The cost of conveyancing is minimal compared to the potential risks of going without professional support.

Need Help with Your Contract?

Don’t navigate your property contract alone. Haitch Conveyancing’s experienced team will review every detail and ensure you’re fully protected from start to finish.