Victorian Government Extends Off-the-Plan Stamp Duty Concession to April 2027

By Ally Hornibrook & Chantelle Shepherd | Shepherd Property Lawyers

In a significant update for property buyers and investors across Victoria, the State Government has officially extended the temporary off-the-plan stamp duty concession.

Originally scheduled to expire on 21 October 2026, the concession has now been extended under the Building Legislation and Treasury Legislation (Tax Relief) Amendment Act 2026 to a new end date of 21 April 2027.

If you are considering purchasing an off-the-plan residential property, here is everything you need to know about the extension and how it could save you thousands.

What Does the Extension Mean?

For eligible contracts entered into between 21 October 2024 and 21 April 2027, buyers can access a substantial reduction in duty.

The concession works by deducting any construction or refurbishment costs incurred after the contract date from the property's total dutiable value. As a result, stamp duty is calculated on a significantly lower figure, often leading to considerable cost savings at settlement.

Who & What Is Eligible?

To qualify for the off-the-plan duty concession, the property must meet the following criteria:

• Property Type: It must be a residential lot within a strata subdivision.

• Common Property: The lot must be part of a plan of subdivision that includes common property.

Key Advantages for Buyers:

• Open to All Buyers: Unlike many other property grants, this concession applies to both owner-occupiers and investors.

• No Price Threshold: There is no maximum purchase price limit to qualify, making it available across a wide range of developments.

How Shepherd Property Lawyers Can Help

Navigating off-the-plan contracts requires careful review to ensure you understand your rights, obligations, and tax entitlements. Determining eligibility for duty concessions can significantly impact your total purchasing budget.

If you or your clients are looking to purchase off-the-plan and would like us to verify eligibility for this concession, our team is here to assist.

Contact Shepherd Property Lawyers today to discuss your draft contract or upcoming property settlement.