How Stamp Duty Works in Property Transactions in Victoria

If you're buying or transferring property in Victoria, you've likely heard the term stamp duty — but what exactly is it, and how does it affect your transaction?

At DY Conveyancing Melbourne, we help buyers and sellers navigate the complexities of stamp duty so that you can move forward with confidence. Here's what you need to know.

📌 What Is Stamp Duty?

Stamp duty (also known as land transfer duty) is a state government tax charged on certain transactions, including property purchases and some title transfers. In Victoria, it's administered by the State Revenue Office (SRO).

The amount of stamp duty payable depends on:

• The purchase price or market value of the property

• Whether you're a first home buyer, investor, or owner-occupier

• Your citizenship/residency status (foreign purchasers may incur surcharges)

• Whether you're eligible for any exemptions or concessions

💼 When Is Stamp Duty Paid?

Stamp duty is generally payable within 30 days of settlement. Your conveyancer will:

• Prepare and lodge the required Digital Duties Form

• Coordinate with your lender (if applicable)

• Ensure payment is made in accordance with SRO requirements

🏡 Stamp Duty Concessions & Exemptions

Some buyers may qualify for duty reductions or waivers, such as:

• First home buyer concessions

• Pensioner exemptions

• Off-the-plan discounts

• Principal place of residence benefits

Eligibility depends on a range of factors including buyer status, purchase type, and property value.

🔄 Related Party Transfers & Stamp Duty

Even if property is being transferred between family members or as part of a gift, stamp duty may still apply. The SRO typically assesses duty based on the market value of the property.

✅ How DY Conveyancing Melbourne Can Help

We guide clients through the stamp duty process by:

• Explaining your duty obligations and timelines

• Preparing and lodging all required documents

• Ensuring accurate and timely communication with the SRO and financial institutions

• Helping you claim all available concessions or exemptions

📞 Need Expert Advice on Stamp Duty?

Stamp duty is a significant part of the property transfer process in Victoria. Let DY Conveyancing Melbourne support you with fixed-fee services and experienced guidance—ensuring peace of mind every step of the way