Victoria's temporary off-the-plan duty concession is unusual in one important way: it is open to every purchaser. Unlike the standing concession, you do not need to qualify as a first-home buyer or live in the home yourself. Investors, companies and trusts can all use it.
It works by letting you deduct the construction costs incurred from the contract date when working out the property's dutiable value. On an apartment still to be built, that can lift a meaningful share of the price out of the duty calculation. The concession currently applies to contracts signed before 21 April 2027.
For overseas and investor buyers, this changes the maths on a new apartment. It does not remove the foreign purchaser surcharge or the need for FIRB approval, so read both alongside it. We are glad to walk through a specific figure with you.