Foreign purchaser additional duty revenue collected by the SRO

Year Number of transactions Revenue ($ million)
2015-16 2733 69.18 million
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Exemptions

When you buy or acquire a property in Victoria, you must pay land transfer duty (otherwise known as stamp duty) unless an exemption applies.

If you are a foreign purchaser and you acquire residential property, you must pay additional duty of 7 per cent on the dutiable value of your share of the property (prior to the application of any concessions).

The Treasurer has published guidelines in the Government Gazette, outlining the basis on which exemption decisions are to be made.

Exemptions granted from foreign purchaser additional duty under section 3E(2) of the Duties Act 2000

Period Number of exemptions Value of exemptions
1 July 2015 - 30 November 2015 0 0
1 December 2015 - 31 May 2016 16 $4,333,425
1 June 2016 - 31 December 2016 19 $12,331,706
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