Stamp Duty on $1,000,000 in VIC
Stamp duty on a $1,000,000 property in VIC (Victoria) is $55,000.00 at the general rate. Change the price or buyer below to recalculate with official Victoria rates.
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Stamp duty on $1,000,000 in VIC by buyer
| Buyer | Stamp duty | Share of price |
|---|---|---|
| Investor (general rate) | $55,000.00 | 5.5% |
| Home you will live in | $55,000.00 | 5.5% |
| First home buyer, established home | $55,000.00 | 5.5% |
| First home buyer, new home | $55,000.00 | 5.5% |
| Foreign buyer (duty plus surcharge) | $135,000.00 | 13.5% |
How the $1,000,000 figure is worked out
- General rate: 5.5% of the whole $1,000,000.
First home buyers: No first home buyer concession above $750,000.
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Stamp duty near $1,000,000 in VIC
| Price | General rate | Home buyer |
|---|---|---|
| Stamp duty on $850,000 | $46,070 | $46,070 |
| Stamp duty on $900,000 | $49,070 | $49,070 |
| Stamp duty on $950,000 | $52,070 | $52,070 |
| $1,000,000 | $55,000 | $55,000 |
| Stamp duty on $1,100,000 | $60,500 | $60,500 |
| Stamp duty on $1,200,000 | $66,000 | $66,000 |
| Stamp duty on $1,300,000 | $71,500 | $71,500 |
$1,000,000 stamp duty in every state
At $1,000,000, Victoria ranks number 8 of 8 from cheapest for general-rate stamp duty.
| State | General rate |
|---|---|
| Australian Capital Territory | $36,950 |
| Queensland | $38,025 |
| New South Wales | $39,187 |
| Tasmania | $40,185 |
| Western Australia | $42,616 |
| South Australia | $48,830 |
| Northern Territory | $49,500 |
| Victoria | $55,000 |
Frequently asked questions
How much is stamp duty on $1,000,000 in VIC?
Stamp duty on a $1,000,000 property in Victoria is $55,000.00 at the general rate. That is 5.5% of the price. First home buyer relief does not reduce duty on an established home at $1,000,000; the buyer pays $55,000.00.
Do first home buyers pay stamp duty on $1,000,000 in VIC?
First home buyer relief does not reduce duty on an established home at $1,000,000; the buyer pays $55,000.00.
How much stamp duty does a foreign buyer pay on $1,000,000 in VIC?
$135,000.00 in total: $55,000.00 transfer duty plus $80,000.00 foreign purchaser additional duty (8%).
Sources
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