If you need specific information on stamp duty rates in Victoria, and the stamp duty rates VIC and information about stamp duty concessions and exemptions, you can be obtain them by visiting the website of the State Revenue Office. In Australia Stamp Duty is a general purpose tax, is imposed on various types of documents and transactions pertaining to property acquisitions. Stamp duty is a government charge incurred by the purchaser of real estate, and payable to the State Revenue Office with regard to the purchase of real estate.  It is paid prior to lodging of the transfer of land at the Land Titles Office. Stamp duty is usually paid by the purchaser's. In Australia stamp duty is also payable on mortgages.

The stamp duty rates VIC on residential properties increases when the purchase price passes through different thresholds.  The State Government of Victoria has lifted the thresholds for stamp duty by around 10% with the result that Victoria will not have the highest stamp duty in Australia any longer. According to the Rates Act of 2004 the owner is the registered proprietor of a parcel of land, a mortgage in his possession or any individual holding a parcel of land under a sublease.

The stamp duty rates vary from state to state in Australia. Stamp duty is also known as transfer duty and transaction duty.   The government of Australia levies a duty on the sale of land, property, business or company shares and on hire of goods. Stamp duty Rates VIC is imposed on various transactions by the state governments of Australia. The monies collected by way of stamp duty are used by the state governments for improving health, education, law and order and public safety in Victoria.  

 There are some stamp duty concessions on owner occupied property transfers and business property transfers.  The concessions in stamp duty vary from state to state. For availing the concessions there are certain criteria such as the property value, the type of property and the occupancy requirements.  The home buyers in Victoria should contact the Office of State Revenue to know the information relating to stamp duty concessions.  For encouraging first time home buyers there are   concessions or exemptions on stamp duty on houses. The details of these rates and concessions along with eligibility criteria can be had from the Office of State Revenue.

The government of Victoria is expected to introduce a package on stamp duty to cut costs of home buying through lower stamp duty rates and improve home affordability for the people. After the budget of 2008-09 home buyers in Victoria can avail lesser stamp duty rates and the land tax rates have also been reduced.  For example a purchaser of a median priced house in Melbourne can enjoy the rate cut that was announced in the budget and save $3200 in stamp duty.  Even those other than the first home buyers can avail the cuts in stamp duty rates for buying homes. This will help improve home affordability in Victoria.