Stamp Duty Pensioner and Concession Cardholder Reduction - VIC

The Pensioner and Concession Cardholder duty reduction:

• is for eligible concession cardholders including pensioners;
• is a once-only exemption or concession from stamp duty;
• applies to contracts signed on or after 1 July 2023.

It replaces the Pensioner exemption or concession which applies to contracts signed up to and including 30 June 2023 and different rules apply.

Table of Contents

• Getting Started
• Using the triConvey Stamp Duty Estimator
• Purchase Matter Stamp duty Estimator
• Transfer Matter Stamp Duty Estimator

Getting Started

For more information on eligibility and how the reduction is calculated please refer to the State Revenue Office Victoria website.

Using the triConvey Stamp Duty Estimator

triConvey's Stamp Duty Estimator will check the following information from your matter to calculate the Pensioner and Concession Cardholder duty reduction:

• the entered contract date (if no date is entered it will assume today's date);
• the entered dutiable value (for a transfer this will be either consideration or market value, whichever is greater); and
• the selected concession type.

Existing home and vacant land with dwelling reduction thresholds apply to the whole value of the property and are as follows:

• full exemption from duty for homes valued up to $600,000; or
• concession for homes valued from $600,001 to $750,000.

Purchase Matter Stamp duty Estimator

1.    From Matter Details, double-click Conveyancing Details.  

2.    Enter the Purchase Price.

3.    Enter the Contract Date (or leave blank to use today's date).

4.    Select the Stamp Duty, Tax & Registration tab.

5.    Enter Foreign Interest percentage (if applicable).

6.    Select a Pensioner and Conc. Cardholder Concession Type.

7.    The reduction (if within the threshold) will be calculated, showing the Concession amount in less Concession and the total Duty Payable. 

If the contract date is before 1 July 2023 an alert will appear and no reduction will apply:

• If the contract date is before 1 July 2023, Pensioner (existing home) and Pensioner (vacant land) concession types are still available for selection in the drop-down list under Old Concession Schemes.
  
  
• If the contract date is on or after 1 July 2023 and Pensioner (existing home) or Pensioner (vacant land) under Old Concession Schemes is selected, an alert will also appear and no reduction will apply:
  
  

Transfer Matter Stamp Duty Estimator

The Stamp Duty Estimator on Transfer Details will use the dutiable value (consideration or market value, whichever is greater) together with the Pensioner and Concession Cardholder concession type.

To calculate the reduction (if within the threshold), see the Concession amount in less Concession and the total Duty Payable.