Victoria: stamp duty, FHB & settlement cash

Worked example: $650k FHB live-in (inside the concession slope)

Eligible first-home owner-occupier, established, 20% deposit. Full exemption ends at $600,000. At $650,000 you are on the slope to full duty at $750,000 — not “almost $0”.

Property value

$650,000

Stamp duty

$11,357

Government fees

$1,633

Funds to complete (20%)

$142,990

VIC FHB sliding concession ($600k–$750k)

FHB exemption vs the $750k wall

Eligible Victorian first-home buyers pay $0 duty at or below $600,000. From $600,001 to $750,000 duty is a fraction of the standard table: (price − $600,000) / $150,000 × standard duty. At $750,000 the concession is gone.

A $20,000 auction stretch that crosses $600,000 is a different cash stack, not a rounding error. Re-run the offer you will actually sign.

Foreign surcharge vs citizen

Victoria’s foreign purchaser additional duty is modelled at 8% of dutiable value on top of transfer duty. It is not a small surcharge on a small extra. On a $950,000 purchase the surcharge line can exceed base duty.

One foreign person on title can change the whole settlement worksheet. FHB ticks and live-in stories do not cancel surcharge. Confirm the SRO definition for every name before exchange.

Scheme caps are tighter than NSW metro

Modelled 5% Deposit Scheme caps: $950,000 metro, $650,000 regional. Do not import a $1.5m NSW metro comfort zone into a Victorian bid.

FHOG is aimed at new homes (modelled $10,000 ≤ $750,000). Established FHB buyers should treat grant as $0 unless the contract date is confirmed as eligible.

Victoria traps

PPR (principal place of residence) concessions on the standard table are a separate overlay DutyStack does not fully encode. Treat the engine as the FHB / surcharge / Scheme skeleton, then verify PPR treatment with a conveyancer.

• Stretching $590k “just over $600k” without re-running duty
• Budgeting FHOG on established stock
• Ignoring an 8% surcharge because “we live here”