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.
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:
This applies to:
To qualify, you must meet all of the following:
If buying with a partner, both parties must meet these conditions.
Here’s how the savings work under the current Victorian thresholds:
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.
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:
Once approved, the SRO automatically applies your concession or exemption during settlement.
Yes – you can combine this benefit with several other first-home programs:
Your conveyancer can confirm which combination best fits your situation.
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.
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.
Investors, trusts, companies, and non-residents are generally NOT eligible.
Missing paperwork can delay settlement or result in paying full stamp duty upfront.
Complete the short form below and one of our conveyancers will prepare your fixed-fee quote and be in touch shortly.
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