Victoria Stamp Duty $1M β€” First Home Buyer | $55,000

A first home buyer purchasing a $1M property in Victoria pays $55,000 in stamp duty.

Stamp Duty Payable

$55,000

on a $1M property in VIC

Buyer & Property Information

Stamp Duty Calculation

$55,000

Total Costs

$56,800

$4,542/Month

Stamp Duty Calculation

I Am a,, For the Purpose of

Buying a Property in State With a Price of $

VIC Base Stamp Duty Calculation:

Property Price: $1,000,000
Bracket 4 ($960,000-$2,000,000): $1,000,000 Γ— 5.5%
= $55,000

First Home Buyer Stamp Duty Policy (VIC):

Exceeds first home buyer threshold, full stamp duty applies = $55,000

Upfront Cost Breakdown

Total Upfront Costs

Stamp Duty$55,000
Conveyancing / Legal Fees (est.)$1,800
Total Upfront Costs$56,800

Conveyancing fee is an estimate only (typically $800–$2,500). Actual fees vary by conveyancer/solicitor and state.

Stamp Duty Comparison by State

Loan Calculation

Deposit Ratio: %
Loan Term: Years
Interest Rate: %
Deposit Amount$200,000
Loan Amount$800,000

Mortgage Calculation (Principal & Interest)

Loan Amount$800,000
Loan Term30 Years
Interest Rate5.5%
Loan Type:
Monthly Repayment$4,542
= Monthly Payment = Loan Amount Γ— (Monthly Rate Γ— (1 + Monthly Rate)^Terms) Γ· ((1 + Monthly Rate)^Terms - 1)
= $800,000 Γ— (Monthly Rate: 0.004583 Γ— (1 + 0.004583)^Total Months: 360) Γ· ((1 + 0.004583)^360 - 1)
= $4,542
Total Repayment$1,635,232
Total Interest$835,232

Compare with Lenders

Rates as of 2026-07-15
LenderRateMonthlyDiff
Westpac5.99%$4,791+249
ING5.99%$4,791+249
Commonwealth Bank6.09%$4,843+300
Macquarie Bank6.09%$4,843+300
UBank6.09%$4,843+300
Bendigo Bank6.14%$4,869+326
Bank of Queensland6.14%$4,869+326
ANZ6.39%$4,999+456
NAB6.44%$5,025+483
Suncorp6.54%$5,078+535
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Mortgage Cashflow Over Time

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Cost Breakdown

ItemAmount
Property Price$1,000,000
Base Stamp Duty$55,000
Stamp Duty Payable$55,000

Frequently Asked Questions

How much stamp duty do I pay on a $1M property in Victoria?β–Ύ
A first home buyer purchasing a $1M property in Victoria pays $55,000 in stamp duty.
Are there stamp duty concessions for first home buyers in Victoria?β–Ύ
Yes. Victoria offers first home buyer relief β€” exempt up to $600k with partial relief up to $750k.
When is stamp duty due in Victoria?β–Ύ
In Victoria, stamp duty (transfer duty) is generally due within 3 months of signing the contract, or on settlement β€” whichever is earlier.
What is the stamp duty rate in Victoria?β–Ύ
Victoria uses a progressive bracket system. The exact rate depends on the purchase price β€” for a $1M purchase as a first home buyer, the effective rate is approximately 5.50%.

Compare Buyer Types β€” $1M in VIC

Owner Occupier$55,000Investor$55,000Foreign Buyer$135,000

Stamp Duty at Other Prices β€” VIC First Home Buyer

$300k$0$500k$0$750k$40,070$900k$49,070$1.25M$68,750$1.5M$82,500$2M$110,000$3M$175,000$5M$305,000

Need a Custom Calculation?

Use our full Victoria stamp duty calculator for exact amounts with your specific property details.

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Victoria Stamp Duty $1M β€” First Home Buyer | $55,000