First-home buyers in Victoria: how the duty exemption thresholds actually work

Full exemption under $600,000, sliding concession to $750,000 — and the traps at the boundaries.

By LawsFinder Desk

What changed / what stands

Victoria's first-home buyer duty relief has two bands: a full exemption for homes up to $600,000 and a sliding concession between $600,001 and $750,000. Above $750,000 there is no first-home relief at all — one dollar over the line changes the bill by tens of thousands.

Who is affected First-home buyers purchasing in Victoria, including off-the-plan purchases (where the dutiable value calculation differs).

What it means for your money - At $600,000: duty ≈ $0 with the exemption. - At $650,000: partial concession — the discount shrinks as the price rises. - At $750,001: full duty applies.

What to prepare The exemption is claimed in the transfer paperwork — eligibility evidence (first-home status, residence requirement) needs to be right the first time. LawsFinder's first-home buyer procedure walks the paperwork; a conveyancer or solicitor handles the transfer itself.