What is the off-the-plan stamp duty concession in Victoria?
How Victoria's off-the-plan stamp duty concession reduces dutiable value, who it can apply to, and where investors check current eligibility.
What is the off-the-plan stamp duty concession in Victoria?
Victoria offers a stamp duty concession for certain off-the-plan property purchases. Stamp duty — officially “land transfer duty” in Victoria — is a one-off state tax charged when property changes hands, usually payable within a set window after settlement, with the exact treatment set state by state (Moneysmart). The off-the-plan concession works by reducing the dutiable value the duty is calculated on — the value of construction or refurbishment work not yet carried out at the date of the contract is left out of that calculation, rather than duty being charged on the full contract price.
As at July 2026, two versions of the concession run side by side, and only one of them reaches an investment purchase. A temporary concession — extended to cover contracts signed on or after 21 October 2024 and before 21 April 2027 — is open to all purchasers, including investors, companies and trusts, with no requirement to live in the property and no dutiable value ceiling. It only reaches one kind of property, though: a lot in a strata subdivision with common property (an apartment, unit or townhouse), not a stand-alone house-and-land package. Sitting alongside it, the original off-the-plan concession still only applies where the buyer separately qualifies for the principal place of residence concession or the first home buyer duty exemption/concession — so on its own it doesn’t help a pure investment purchase (State Revenue Office Victoria). Confirm the current rules directly with State Revenue Office Victoria or your conveyancer before assuming either version applies to a specific contract.
What counts as an “off-the-plan” purchase?
An off-the-plan purchase means signing a contract to buy a lot — commonly an apartment, a townhouse, or a house-and-land package — before construction, or a major refurbishment, is finished. You’re buying against plans, specifications and a display suite rather than a finished, inspectable property, and settlement happens later, once the building is complete and the plan of subdivision is registered.
How is the dutiable value worked out?
Off-the-plan dutiable value = contract price − value of construction or refurbishment not yet carried out at the contract date
Ordinarily, duty is assessed on the contract price or the property’s market value, whichever is higher. Where an off-the-plan contract is eligible for the concession, the share of the price that pays for building work still to come is excluded from that calculation before duty is worked out. Timing follows from this: exchanging early in a project, before much has been built, excludes a larger share of the price than exchanging close to completion, when most of the construction cost has already been spent.
| Standard method | Off-the-plan method (where eligible) | |
|---|---|---|
| Duty calculated on | Full contract price, or market value if higher | Contract price, minus construction/refurbishment not yet done at the contract date |
| What affects the outcome | Price/value alone | How far through construction the contract is signed |
| Who can currently claim it (as at July 2026) | N/A | All purchasers, incl. investors, for eligible strata lots under the temporary concession (contracts 21 Oct 2024 – 21 Apr 2027, no dutiable value ceiling); PPR or first-home buyers only under the original concession |
Who currently qualifies in Victoria?
This is the question an investor actually needs answered, and — as at July 2026 — State Revenue Office Victoria publishes a clear answer for one path only. An investment purchase can currently qualify — but only through the temporary off-the-plan concession, and only if the property is a lot in a strata subdivision with common property (an apartment, unit or townhouse). That temporary concession runs for contracts signed on or after 21 October 2024 and before 21 April 2027, carries no dutiable value ceiling, and doesn’t require the purchaser to live in the property or be a first home buyer — investors, companies and trusts can all use it. A stand-alone house-and-land package outside a strata subdivision doesn’t qualify under this pathway, and it can’t fall back on the older off-the-plan concession either, because that one only applies where the buyer separately qualifies for the principal place of residence concession or the first home buyer duty exemption/concession. Eligibility for state duty concessions is reviewed through the state budget process and has narrowed and widened before — the temporary concession itself has already been extended once — so a setting you’ve seen quoted in an older article, a forum thread, or even last year’s guidance may no longer be current. Tax outcomes depend on your circumstances — speak with a registered tax agent before acting, and confirm the current eligibility criteria directly with the State Revenue Office Victoria or a licensed conveyancer before factoring any duty saving into a purchase decision.
Why do the rules keep changing?
Duty concessions, like other state property taxes, are set and adjusted through each state budget rather than fixed permanently. Victoria’s own history shows movement in both directions: before 1 July 2017 the off-the-plan concession applied to any property type, including investment and commercial purchases; from 1 July 2017 it narrowed to owner-occupiers and first home buyers only; and from 21 October 2024 a temporary concession reopened the door to investors again, but only for strata-titled lots, and only for contracts signed before 21 April 2027 under current settings (State Revenue Office Victoria). Thresholds move too, and start and end dates for any change are set by the government of the day. That’s why this article anchors every current figure to a checked date rather than presenting it as fixed — the safe approach for a state-set concession is to check it again at the time you need it, not to rely on a number that may already have changed by then.
How is it actually applied at settlement?
Where a concession does apply, it’s typically handled through the standard settlement paperwork by your conveyancer or solicitor, using the forms and guidance currently published by the State Revenue Office Victoria — it isn’t something a buyer works out and pays separately from the normal duty process. As at July 2026, both versions of the concession are claimed through the Digital Duties Form in SRO Vic’s Duties Online system: the vendor enters the construction-cost figures needed to work out the concession, using whichever of the two SRO-approved calculation methods applies, and your conveyancer, solicitor, financial institution or their agent completes the purchaser’s part of the form to claim it. SRO Vic then reviews the documentation and issues a written duty assessment, and both vendor and purchaser carry ongoing record-keeping obligations for the transaction.
Weighing an off-the-plan purchase as an investor
Duty treatment is one factor among several an investor weighs on an off-the-plan contract, not the whole decision.
| Factor | What to check |
|---|---|
| Duty/concession eligibility | Current SRO Vic settings for your contract type and purchaser category |
| Property type | Apartment, townhouse or house-and-land carry different ongoing costs and considerations — see our guide comparing houses, townhouses and apartments for investment |
| Settlement timeline | Off-the-plan settlement dates depend on construction completion, not a fixed calendar date |
| Financing | Lender requirements for an off-the-plan contract are set by the lender, not this article |
None of this replaces a read of the actual contract or current SRO Vic guidance. For how property investment works more broadly — rental income, capital growth, and the costs and risks that sit alongside it — see our guide to property investment in Australia.
Where to check the current settings
- State Revenue Office Victoria — publishes the current eligibility criteria, dutiable value settings, and forms for Victorian land transfer duty concessions.
- Moneysmart — general explanation of how stamp duty works and when it’s payable.
- A licensed conveyancer or solicitor — can confirm whether a specific contract currently qualifies, and handle the paperwork if it does.
Whether an off-the-plan purchase suits your circumstances turns on more than duty treatment — construction risk, finance timing, and your own risk tolerance all weigh in, and this article isn’t the place that decision gets made. A licensed conveyancer or solicitor can confirm current duty treatment for a specific contract, and a licensed financial adviser or buyer’s agent can help with the wider decision.
