First-Home Buyer Duty Concession Increases to 50%

Published on 02 September 2014

The Victorian Government offers eligible first-home buyers a duty concession when they buy a new or established home.

This concession rate rose to 50 per cent on 1 September 2014 and is the final of the incremental increases which have been phased in over the past four years.

The duty concession applies where you buy a principal place of residence valued at not more than $600,000 and where the settlement date is on or after 1 July 2011.

Meeting the eligibility requirements for the First Home Owner Grant (FHOG) entitles you to the concession, however, you will not be entitled to the FHOG if you buy an established home and the contract date is on or after 1 July 2013.

For more information please visit Duty Reduction for First Home Buyers on the SRO website.