Victoria has one of the higher stamp duty rates in Australia, particularly in Melbourne where property prices push most purchases into the upper brackets. Rates range from 1.4% at the lowest threshold to 6.5% on amounts above $2 million.
Get an exact figure for your purchase price — including first home buyer concessions
Open stamp duty calculator →First home buyers in Victoria pay zero stamp duty on both new and established homes up to $600,000. A scaled concession applies from $600,000 to $750,000. This is one of the more generous FHB stamp duty schemes in Australia as it covers established homes.
Victoria applies stamp duty to the full purchase price once you exceed a threshold — it is not a marginal rate system across the full price range in the same way income tax works. This means small price increases around threshold points can trigger meaningfully higher duty.
| Purchase price | Stamp duty | As % of price |
|---|---|---|
| $400,000 | $18,050 | 4.5% |
| $500,000 | $25,070 | 5.0% |
| $600,000 | $28,915 | 4.8% |
| $700,000 | $37,070 | 5.3% |
| $800,000 | $45,225 | 5.7% |
| $1,000,000 | $55,670 | 5.6% |
| $1,500,000 | $91,856 | 6.1% |
Stamp duty is the largest upfront cost but not the only one. Budget for these additional items on top of your deposit and stamp duty:
Stamp duty on a $700,000 property in Victoria is approximately $37,070. Use the calculator above for an exact figure based on your purchase price and buyer status.
First home buyers in Victoria pay zero stamp duty on both new and established homes up to $600,000. A scaled concession applies from $600,000 to $750,000. This is one of the more generous FHB stamp duty schemes in Australia as it covers established homes.
Stamp duty is payable on settlement day — the day you take legal ownership of the property. Your conveyancer will calculate the exact amount and arrange payment as part of the settlement process. You need to have the funds available by settlement.
No — stamp duty cannot be added to your home loan. It must be paid upfront at settlement from your own funds. This is why stamp duty is a critical part of your upfront cost budget alongside your deposit.
For owner-occupiers, stamp duty is not tax deductible. For investment properties, stamp duty forms part of the cost base of the asset and may reduce capital gains tax when you sell, but it is not deductible in the year of purchase. Always confirm with your accountant.