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Maybe maybe not. If its under $750K and satisfies the FHOG concession its still exempt. If the total cost exceeds $750K then a land only contract + a build contract may fly under the radar too if its two contracts. If its $750,001 and a OTP then the duty concession is zero.

http://www.sro.vic.gov.au/ca25758c001d283e/LinkView/3F85F5AD85FA6222CA2575CB0000CC638024A4ADFB9DAED9CA2575A1004420DC OTP is included. But check ALL the eligibility criteria. The dutiable value is the contract price which includes the land and the completed build. Capped at $750K unless is...