Victoria's Off-the-Plan Stamp Duty Concession: What It Is and How to Claim It

Stamp duty is one of the largest upfront costs of buying property in Victoria. For buyers of new apartments and townhouses, the off-the-plan duty concession can reduce that cost significantly. This guide explains what the concession is, how it works and who can use it, in plain English.

What stamp duty actually is

Stamp duty, officially called land transfer duty, is a one-off state tax you pay when property ownership changes hands. It is calculated on the dutiable value of the property, which is usually the contract price. The off-the-plan concession changes how that dutiable value is worked out.

How the off-the-plan concession works

When you buy off-the-plan, you sign your contract before construction is finished. The concession lets you calculate duty on a reduced dutiable value. In simple terms, the value is the contract price minus the construction costs that have not yet been incurred at the date you sign. The earlier in the build you buy, the more construction is still outstanding, and the lower your dutiable value can be.

This is why timing matters. Buying at an earlier construction stage generally means a larger reduction than buying close to completion.

Two concession pathways in Victoria

There are currently two ways the off-the-plan concession can apply.

• The standard concession. This is available to buyers purchasing the property as their principal place of residence, including first home buyers. It reduces dutiable value by the outstanding construction component.
• The temporary expanded concession. For eligible contracts, this broader concession is open to all purchasers, including investors, companies and trusts. It applies to apartments, units and townhouses in a strata subdivision with common property, not to standalone house-and-land that is not part of a strata scheme. It has no property price limit.

First home buyers: extra help on top

If you are a first home buyer purchasing a new home, you may be able to combine concessions. As at the date of this article, Victoria offers a full first home buyer duty exemption for eligible homes valued at $600,000 or less, and a sliding concession up to $750,000. Eligible first home buyers may also receive the $10,000 First Home Owner Grant for a new home valued up to $750,000. These settings have their own conditions and can change.

How much can you save?

The saving depends on the price, the type of property and how much construction is still outstanding when you sign. For new Melbourne apartments and townhouses bought early in the build, the reduction can run into the tens of thousands of dollars. We do not quote a fixed figure here because the exact number is specific to your contract. A conveyancer can calculate it precisely once a property is identified.

Things that can change your eligibility

Several common situations can affect the concession or trigger extra duty. These include changing the named buyer before settlement, transferring the contract to someone else, buying with a co-purchaser where only one person intends to live in the home, or deciding to rent the property instead of living in it when you claimed the owner-occupier pathway. If any of these might apply to you, speak with your conveyancer before you proceed.

How to confirm your position

The concession rules carry detail and conditions, and they change from time to time. The authoritative source is the State Revenue Office Victoria, and your conveyancer or solicitor will confirm your exact entitlement and calculate the figure for your contract. At Nobilis we help you understand the structure early so there are no surprises, then coordinate with the right specialist at the right time.

This article is general information only and is current as at June 2026. It does not take account of your personal circumstances and is not financial, legal, taxation or investment advice. Rules, thresholds and concessions change and may not apply to your situation. Please confirm your position with the State Revenue Office Victoria, a qualified conveyancer or solicitor, and your accountant or financial adviser before making any decision.