If you’re currently in Victoria in the market to buy your first home, you’ll no doubt be aware that the Victorian Government introduced stamp duty exemptions and concessions on 1 July. The exemption applies to property with a value of $600,000 or less. For properties between $600,000 and $750,000 there’s a sliding scale as to how stamp duty is calculated. Here is a table of some examples (thanks to our friends at the State Revenue Office) to give you an idea of how much stamp duty you’re likely to incur if you are going to an auction:
| Purchase Price | Normal Duty | Duty after concession | Total of Purchase Price and Duty after concession | Stamp Duty Saving |
| $605,000 | $31,370 | $1,045 | $606,045 | $30,325 |
| $625,000 | $32,570 | $5,428 | $630,428 | $27,142 |
| $650,000 | $34,070 | $11,356 | $661,356 | $22,714 |
| $675,000 | $35,570 | $17,785 | $692,785 | $17,785 |
| $700,000 | $37,070 | $24,713 | $724,713 | $12,357 |
| $725,000 | $38,570 | $32,141 | $757,141 | $6,429 |
| $745,000 | $39,770 | $38,444 | $783,444 | $1,326 |