Victoria's duty scales at a glance
Victoria charges the highest property transfer duty in the country at typical price points, but it also runs the most layered concession system. General rates:
| Dutiable value | General duty |
|---|---|
| $0 – $25,000 | 1.4% |
| $25,001 – $130,000 | $350 + 2.4% over $25,000 |
| $130,001 – $960,000 | $2,870 + 6% over $130,000 |
| $960,001 – $2,000,000 | Flat 5.5% of the full value |
| Over $2,000,000 | $110,000 + 6.5% over $2,000,000 |
Owner-occupiers get the principal place of residence (PPR) rate on homes up to $550,000 — at $500,000 that's $21,970 instead of $25,070. You must move in within 12 months and live there for 12 continuous months.
First home buyers: free to $600,000, discounted to $750,000
Eligible first home buyers pay no duty on homes up to $600,000 and a sliding-scale concession from $600,001 to $750,000. The thresholds haven't moved since 2017 while Melbourne's median has — so many first home buyers now land in the concession band rather than the full exemption. Above $750,000 there's no relief at all, which makes the price you negotiate unusually consequential: a contract at $749,000 versus $755,000 changes your duty bill by tens of thousands.
Extras to budget for
Foreign purchasers pay an additional 8% surcharge. Duty is payable at settlement, and Victoria's rates are not indexed — the brackets above have been stable for years, but concession rules change in state budgets, so verify before you sign.
Worked example
A $700,000 established home: an investor pays $2,870 + 6% × $570,000 = $37,070. An eligible first home buyer pays the concessional amount — roughly two-thirds of the PPR duty at that price — saving well over $10,000.