Stamp Duty Exemptions in Victoria



From: Miss Terious

Hi all guru's out there..

Can anyone tell me if there are any stamp duty exemptions for Victorian First Home Buyers if they are spending less than $200k on their first home?

Second of all, has anyone heard of, or borrowed LMI on their first home? Is this possible?

Thanks in advance :)

Miss Terious
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Reply: 1
From: Scott Marshall

Stamp duty is only paid on the unimproved land in Vic. If there is already a house on it, duty is paid on the lot.
Its a scam by developers when they say that, they will pay the stamp duty on the house, as there isn't any.
I haven't heard the state gov wavering duty for first home buyers. The feds are giving a grant or two though as building is in a slump.
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Reply: 2
From: Rolf Latham

Hi Misty

In NSW there is First Home Plus.

This is a state based scheme where first home buyers get a 100 % stamp duty exemption on transfer of property AND the mortgage for purchases of less than 200 000 in a metro area, and partial exemptions from 200 to 300 k.

In regard of LMI, ANZ will capitalise LMI on a 95 % loan, Bankwest will capitalise up to 95 %, and some will do various bits in between.

Theres always a way :eek:)


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Reply: 2.1
From: Steve _Deve

Hi MissT

I did read somewhere once that there are concessions on stamp duty in vic but they are means tested, and may also depend on if you have dependants.

In any case, it would prob be best to check with the state revenue office (

Steve (Deve)
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Reply: 3
From: Victor Mann

miss T

Some banks will add the LMI on top of the loan amount so in effect giving a max 97-98% lend


Victor (the broker) Mann
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