State changes buyers missed in 2026: duty, concessions and auction rules
Victoria left its stamp duty rates alone in 2026. What moved, there and in Queensland, were the concessions. Victoria extended its off the plan duty concession to contracts signed before 21 April 2027. Queensland kept duty at nil for first home buyers of new homes but, from 1 August 2026, limited home concessions to citizens and permanent residents. Victoria also changed its auction rules from 1 October.
When Canberra rewrote negative gearing in May, nobody was watching the state budgets. That is a pity, because for many buyers the state changes are worth more money, sooner.
Stamp duty is paid in cash. A concession you did not know about is cash you paid for nothing.
Key facts, as at 3 October 2026
- Victoria: off the plan concession covers contracts from 21 October 2024 and before 21 April 2027
- Victoria: no change to duty rates or thresholds
- Victoria: reserve prices disclosed seven days before auction, from 1 October 2026
- Queensland: no duty for eligible first home buyers on a new home, no price cap
- Queensland: home concessions limited to citizens, permanent residents and specified foreign retirees from 1 August 2026
Sources: State Revenue Office Victoria, Queensland Revenue Office
Victoria: off the plan, for six more months
This is the one investors should know.
Victoria's standing off the plan concession is for owner occupiers and first home buyers. The temporary one is open to everyone, investors included. The State Revenue Office says there is no price threshold: it is available for properties of any value.
It works by letting you deduct the construction costs incurred on or after the contract date from the value that duty is charged on. Buy early in a build and most of the price can fall outside the duty calculation.
The conditions:
- The property is a lot in a strata subdivision with common property: an apartment, unit or townhouse.
- The contract is signed on or after 21 October 2024 and before 21 April 2027.
The concession began as a one year measure and has now been extended more than once. We would not plan on another extension.
It also sits neatly beside the federal change. An off the plan apartment is a new build, so it keeps negative gearing. We cover the risks in off the plan after the Budget.
Queensland: generous to first home buyers, tighter on who qualifies
Queensland charges an eligible first home buyer no transfer duty at all on a new home, or on vacant land to build one, whatever the price. That has applied to contracts from 1 May 2025.
On an established home, the first home concession brings duty to nil up to $700,000. Above that the concession falls away quickly. Our calculator shows a first home buyer paying $21,850 on an $800,000 established home, and nothing on an $800,000 new one.
The 2026 change is about eligibility. From 1 August 2026, the home, first home and vacant land concessions are only for Australian citizens, permanent residents and specified foreign retirees.
New South Wales: one for developers
New South Wales made its 50% land tax concession for build to rent developments permanent and loosened the criteria. That is aimed at large developers, not individual buyers, but it adds to the supply of new rental stock over time.
What duty looks like on a $750,000 investment
For scale, here is the duty an investor pays on an established $750,000 home, with no concessions.
| Duty | |
|---|---|
| Queensland | $26,775 |
| New South Wales | $27,937 |
| Western Australia | $29,741 |
| South Australia | $35,080 |
| Victoria | $40,070 |
Source: Presm Stamp Duty Calculator, October 2026. No concessions applied.
| State | Duty on $750,000 | Duty on $1,000,000 |
|---|---|---|
| Queensland | $26,775 | $38,025 |
| New South Wales | $27,937 | $39,187 |
| Western Australia | $29,741 | $42,616 |
| South Australia | $35,080 | $48,830 |
| Victoria | $40,070 | $55,000 |
Victoria charges about $13,000 more than Queensland on the same price. That gap is exactly why the off the plan concession matters there.
Victoria's auction rule
From 1 October 2026, Victorian buyers can see the seller's reserve price seven days before an auction or fixed date sale. More on what that does to bidding in spring 2026 auctions.
Our view
Check the concession before you choose the property, not after. In Victoria, a new apartment and an established one at the same price can differ by tens of thousands in duty. In Queensland, a first home buyer at $800,000 pays nothing or $21,850 depending on one choice.
Our 2025 stamp duty breakdown is still up as written, for the base rates in every state.
Open the Stamp Duty Calculator
Frequently asked questions
Did stamp duty rates change in 2026?
In Victoria, no. Its 2026 budget made no change to land transfer duty rates or thresholds. The changes we cover here were to concessions: who qualifies, and for how long.
Is the Victorian off the plan stamp duty concession still available?
Yes. It was extended and now covers contracts signed from 21 October 2024 and before 21 April 2027, for strata apartments, units and townhouses. Investors are eligible, and there is no price limit.
Do first home buyers pay stamp duty in Queensland?
Not on a new home. Eligible first home buyers who buy or build a new home pay no transfer duty, with no price cap. On an established home, no duty is payable up to $700,000.
What changed for Queensland home concessions in August 2026?
From 1 August 2026, the home, first home and vacant land concessions are limited to Australian citizens, permanent residents and specified foreign retirees.
Sources
- State Revenue Office Victoria, off the plan duty concession
- Queensland Revenue Office, first home concession
- Queensland Revenue Office, home concession changes from August 2026
- King and Wood Mallesons, 2026 to 27 State and Territory Budgets
- Consumer Affairs Victoria, Greater property price transparency, 2 October 2026
Duty figures are from the Presm Stamp Duty Calculator. Concessions have conditions we have not listed in full. Check with the revenue office in your state before you sign.