Overview of the Concession

The off-plan duty concession has been extended until October 2026, allowing eligible buyers to save significantly on stamp duty by excluding construction costs from the dutiable value of properties.    

 

The off-the-plan duty concession is a government initiative aimed at making homeownership more affordable by reducing the stamp duty burden on buyers purchasing newly built apartments, units, and townhouses. This concession allows eligible buyers to exclude post-contract construction costs from the dutiable value of the property, resulting in substantial savings on stamp duty. 

 

Key Details

Extension: The concession has been extended until October 21, 2026, as part of a broader $61 million initiative to support housing affordability and stimulate investment in the apartment and townhouse sector. 

 

Eligibility: The concession is available to all buyers, not just first-home buyers or owner-occupiers. This means that investors can also benefit from the reduced stamp duty when purchasing eligible off-the-plan properties. 

 

Savings Example: For instance, a buyer purchasing an apartment valued at $620,000 could see their stamp duty reduced from approximately $32,000 to around $4,000, saving about $28,000. 

 

How It Works

Dutiable Value Calculation: The dutiable value of the property is calculated by subtracting the construction costs incurred after the contract date from the total contract price. This means that the earlier a buyer commits to a purchase, the more they can save. 

 

Types of Properties: The concession applies to newly built apartments and townhouses that are part of a strata 

scheme, which includes shared common property. 

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