Stamp duty — officially land transfer duty — is a one-off tax buyers pay to the Victorian State Revenue Office (SRO) when property changes hands. It’s calculated on the property’s dutiable value (usually the price) on a sliding scale, and it’s normally the single biggest cost of buying.
Victorian stamp duty rates (2026)
The standard (general) rates for residential property are:
| Dutiable value | Duty payable |
|---|---|
| $0 – $25,000 | 1.4% of the value |
| $25,001 – $130,000 | $350 + 2.4% of the amount over $25,000 |
| $130,001 – $960,000 | $2,870 + 6% of the amount over $130,000 |
| $960,001 – $2,000,000 | 5.5% of the total value |
| More than $2,000,000 | $110,000 + 6.5% of the amount over $2,000,000 |
So a $1,000,000 property attracts $55,000 in duty at the standard rate — before any concession.
Concessions that can slash your duty
First home buyers
Eligible Victorian first home buyers pay no duty at all up to $600,000, and a sliding concession from $600,000 to $750,000. Above $750,000 the standard rates apply. This is the biggest saving available — on a $600,000 first home it’s worth around $31,000.
Owner-occupiers (principal place of residence)
If you’ll live in the home and it’s valued at $550,000 or less, a concessional rate applies (a saving of a few thousand dollars). Above $550,000 the standard rates apply.
Off-the-plan
For eligible off-the-plan purchases, duty can be calculated on the land value plus only the construction completed at the contract date — often a very large saving. Eligibility rules apply and change, so your lawyer confirms it.
Foreign purchasers
Foreign buyers of residential property pay an additional 8% surcharge on the dutiable value, on top of the normal duty.
When do you pay it?
Stamp duty is paid at settlement — your lawyer calculates it, collects it with your other settlement funds, and pays the SRO through the PEXA electronic settlement. You don’t deal with the SRO yourself.
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How is stamp duty calculated in Victoria?
On a sliding scale of the property’s dutiable value: 1.4% up to $25,000, rising through 2.4% and 6% bands to a flat 5.5% between $960,000 and $2 million, and 6.5% above $2 million. Concessions can reduce or remove it. Use our calculator for your exact figure.
Do first home buyers pay stamp duty in Victoria?
No duty is payable by eligible first home buyers up to $600,000, with a sliding concession to $750,000. Above $750,000 the standard rates apply.
What is the foreign purchaser surcharge?
Foreign buyers of residential property in Victoria pay an extra 8% of the dutiable value on top of the normal duty.
When do I pay stamp duty?
At settlement. Your lawyer calculates the duty, collects it with your settlement funds and pays the State Revenue Office through PEXA. You don’t need to contact the SRO yourself.