Stamp Duty Windfall For Victorian First Home Buyers

FINANCE
02-Jun-2017

As at 1 July 2017, many Victorian first home buyers will pay no stamp duty on their property purchase. This State government initiative was established to make it easier for people to enter the property market.

First home buyers will now be able to use the money they once had to have available for stamp duty on a deposit instead.

This incentive applies to: 

  • First home buyers
  • Property purchases up to $600,000
  • New property (off-the-plan)
  • Established property
  • Principal place of residence
  • Purchase date on or after 1 July 2017

Homes up to $600,000 will be 100% exempt from stamp duty, with homes between $600,001 and $750,000 receiving partial exemptions from stamp duty, calculated on a sliding scale.


If you are looking to buy your first home or investment property, it pays to know how much you can borrow, what your repayments are likely to be and whether you qualify for any financial incentives such as this new stamp duty reduction.

We invite you to contact the team at Melcorp Finance to discuss your specific needs. After assessing your requirements and financial situation we will be able to present you with a range of suitable options for your consideration and then help you apply for and achieve a home loan. 

More detailed information can be found by visiting the State Revenue Office Victoria website.

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