A $750,000 house in Victoria costs $40,070 in stamp duty. A first home buyer under $600,000 pays zero. Knowing which side of that line a purchase falls on, and what changes as the price moves across it, matters for anyone building a settlement budget.
Stamp duty is calculated on a sliding scale, and it is easy to underestimate simply because it doesn't appear on the listing price the way the purchase price does. It shows up on the settlement statement, by which point it is too late to plan around.
Buying in Victoria? Get in touch to confirm exactly what you'll owe before you commit. The gap between $0 and $40,000 is worth ten minutes of checking.
Book a Free Consultation →How the Sliding Scale Actually Moves
Duty increases in step with the purchase price, not in one flat percentage:
| Purchase price | Approximate stamp duty |
|---|---|
| $500,000 | $21,970 |
| $750,000 | $40,070 |
| $1,000,000 | $55,000 |
These are not rounding errors to leave out of a purchase budget. Duty rates and thresholds are set by the State Revenue Office and are reviewed periodically, so figures should always be confirmed against the current rate before settlement.
Do First Home Buyers Pay Stamp Duty in Victoria?
Buy a first home under $600,000 and you pay zero stamp duty. Between $600,000 and $750,000, a sliding concession applies, gradually reducing the exemption as the price rises. Above $750,000, the full rate kicks back in, with no first home buyer exception.
Is There Still an Off-the-Plan Stamp Duty Concession?
The expanded off-the-plan concession, open to all buyers, not just owner-occupiers, has been extended through to 21 April 2027 for apartments and townhouses in a strata subdivision. This can meaningfully reduce the dutiable value of an off-the-plan purchase, since duty is calculated on the contract price minus construction costs incurred after the contract date.
What Is the Foreign Purchaser Surcharge?
Foreign purchasers pay an additional 8% surcharge on top of standard duty. On a $750,000 property, that is an extra $60,000, and it applies regardless of how the rest of the duty is calculated, including on top of any concession that would otherwise reduce the base rate.
How Phan Campbell & Associates Can Help
At Phan Campbell & Associates in Footscray, our conveyancing team confirms the exact stamp duty position for a purchase before contracts are signed, including whether a first home buyer, off-the-plan, or foreign purchaser rule applies. Because we are a combined legal and accounting firm, we can build the duty figure directly into a client's overall settlement budget.
Frequently Asked Questions
1. How much stamp duty do I pay on a $750,000 house in Victoria?
$40,070. At $500,000 duty is $21,970, and at $1,000,000 it is $55,000, moving in step with the purchase price.
2. Do first home buyers pay stamp duty in Victoria?
Buy a first home under $600,000 and you pay zero. Between $600,000 and $750,000, a sliding concession applies. Above $750,000, the full rate applies.
3. Is there still an off-the-plan stamp duty concession?
Yes. The expanded off-the-plan concession, open to all buyers, has been extended through to 21 April 2027 for apartments and townhouses in a strata subdivision.
4. What is the foreign purchaser surcharge in Victoria?
An additional 8% on top of standard duty. On a $750,000 property, that is an extra $60,000, and it applies regardless of how the rest of the duty is calculated.