SAVE THOUSANDS BY BUYING OFF THE PLAN!! When buying a property off the plan, stamp duty is calculated on the property value at time of signing the contract. Therefore the earlier a contract is signed on a property, the bigger the saving. See the table below which illustrates stamp duty payable on a scale of property values. For more information visit the Victorian State Revenue Office website. Be sure to confirm the amount payable with your solicitor. Value | Stamp Duty Payable | Estimated Saving | Standard | PPOR | 3br @ $220k | 2br @ $190k | $40,000 | $760 | $760 | $8,100 | $6,300 | $50,000 | $1,000 | $1,000 | $7,860 | $6,060 | $60,000 | $1,240 | $1,240 | $7,620 | $5,820 | $70,000 | $1,480 | $1,480 | $7,380 | $5,580 | $80,000 | $1,720 | $1,720 | $7,140 | $5,340 | $90,000 | $1,960 | $1,960 | $6,900 | $5,100 | $100,000 | $2,200 | $2,200 | $6,660 | $4,860 | $110,000 | $2,440 | $2,440 | $6,420 | $4,620 | $120,000 | $2,860 | $2,810 | $6,000 | $4,200 | $130,000 | $3,460 | $3,310 | $5,400 | $3,600 | $140,000 | $4,060 | $3,810 | $4,800 | $3,000 | $150,000 | $4,660 | $4,310 | $4,200 | $2,400 | $160,000 | $5,260 | $4,810 | $3,600 | $1,800 | $170,000 | $5,860 | $5,310 | $3,000 | $1,200 | $180,000 | $6,460 | $5,810 | $2,400 | $600 | $190,000 | $7,060 | $6,310 | $1,800 | $0 | $200,000 | $7,660 | $6,810 | $1,200 | | $210,000 | $8,260 | $7,310 | $600 | | $220,000 | $8,860 | $7,810 | $0 | | $230,000 | $9,460 | $8,310 | | | $240,000 | $10,060 | $8,810 | | | $250,000 | $10,660 | $9,310 | | | $260,000 | $11,260 | $9,810 | | |
Key: PPOR - Principal Place of Residence Example: Purchaser 1 buys a 3br dwelling for $220,000 off the plan prior to construction. The nominated value of the property at time of signing the contract is $40,000. Stamp Duty payable is $760. Stamp Duty Saving is $8,100. Purchaser 2 buys a 3br dwelling for $220,000 off the plan at lock-up stage. The nominated value of the property at time of signing the contract is $110,000. Stamp Duty payable is $2,440. Stamp Duty Saving is $6,420. Purchaser 3 buys a completed 3br dwelling for $220,000. The nominated value of the property at time of signing the contract is $220,000. Stamp Duty payable is $8,860.
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