Off-the-Plan Stamp Duty Concession Victoria: 2026-27 Budget Update

The 2026-27 Victorian Budget extended the temporary off-the-plan stamp duty concession by a further six months. If you are buying an apartment, townhouse or unit off-the-plan, the contract date is what matters. This article sets out what the Budget says about the extension, who it covers and the figures the Government has put against it. Every fact is cited to the Budget Paper and page number.

What is the off-the-plan stamp duty concession?

The off-the-plan concession is a land transfer duty concession that applies to certain contracts for apartments, townhouses and units bought off-the-plan. The 2026-27 Budget describes it as “the temporary land transfer duty concession for off-the-plan apartments, townhouses, and units” (BP3 p.100). It is listed as a continuing tax expenditure, with forecast forgone revenue in 2026-27 of $88 million for owner-occupier off-the-plan and $8 million for the legacy investor cohort with contracts before 1 July 2017 (BP5 p.196).

The 2026-27 Budget extension: six extra months

The Budget extends the temporary concession by a further six months. BP3 p.100 states: “The temporary land transfer duty concession for off-the-plan apartments, townhouses, and units will be extended for an additional six months. The concession will now apply to contracts signed on or after 21 October 2024 and before 21 April 2027.” The stated rationale is verbatim: “The concession will reduce upfront costs for purchasers, speed up construction, and make it more affordable to buy off-the-plan. Additional off-the-plan purchases will help kick-start residential developments that have been approved but are currently on hold due to a lack of pre-sales” (BP3 p.100).

Eligibility: contracts signed in the window

Eligibility hinges on the date the contract is signed. The Budget specifies the concession applies to contracts signed on or after 21 October 2024 and before 21 April 2027 (BP3 p.100). The Budget Papers do not introduce new restrictions on contract type, purchaser status or property value as part of this extension, and do not change the underlying concession’s existing rules. If your contract sits inside that window and meets the existing off-the-plan criteria, the concession applies.

Who can claim it: owner-occupiers and investors

The Budget Papers treat the temporary concession as available to both owner-occupiers and investors. BP5 Table 5.2 (p.196) separately lists the standing “off-the-plan concession for owner-occupiers” ($98 million forgone in 2026-27) and the legacy “off-the-plan concession for investors (contracts before 1 July 2017)” ($8 million forgone). The current temporary concession that has been extended is reported separately at $88 million forgone in 2026-27 (BP5 p.196), and is not limited to first home buyers or principal place of residence purchasers. The extension in BP3 p.100 makes no change to the categories of purchaser eligible.

Property types covered: apartments, units and townhouses

The Budget describes the property types covered as “apartments, townhouses, and units” (BP3 p.100). Houses on standalone titles are not named in the extension wording. The 2026-27 Budget does not introduce a new property type list; it extends the existing temporary concession that covers those three categories. The Budget Papers are silent on edge cases beyond the three types listed.

The numbers: revenue forgone and the cost of the extension

BP3 Table 1.29 (p.100) lists the revenue impact of the extension as: $0.6 million in 2026-27, $6.8 million in 2027-28, $11.7 million in 2028-29 and $13.6 million in 2029-30. That totals $32.7 million over the four-year forward estimates. The existing temporary concession is shown in BP5 Table 5.2 (p.196) with forecast forgone revenue of $43 million in 2025-26, $88 million in 2026-27, $117 million in 2027-28, $99 million in 2028-29 and $52 million in 2029-30. BP5 note (k) p.198 confirms the figures reflect the extended end date.

What did not change in the off-the-plan rules

The 2026-27 Budget does not announce changes to the underlying mechanics of the off-the-plan concession. There is no change to the calculation method, the property categories (apartments, townhouses and units), or the cohort of purchasers who can claim the existing temporary concession (BP3 p.100). No new caps, thresholds or limits on contract value are introduced. The Budget is silent on any settings beyond the six-month extension of the contract-date window.

Frequently asked questions

When does the off-the-plan stamp duty concession end? Contracts must be signed before 21 April 2027 to fall inside the extended window (BP3 p.100).

Can investors claim the off-the-plan stamp duty concession in Victoria? The Budget treats the temporary concession as not limited to owner-occupiers (BP5 p.196). The extension in BP3 p.100 does not change who can claim.

Does the off-the-plan concession apply to townhouses? Yes. BP3 p.100 names “apartments, townhouses, and units”.

How much can I save with the off-the-plan stamp duty concession? The Budget reports the cost of the extension as $32.7 million over four years (BP3 p.100) and the existing concession’s forgone revenue as $88 million in 2026-27 (BP5 p.196). It does not publish a per-buyer saving figure. Your saving depends on the contract price and dutiable value, so request an instant quote for a figure tied to your contract.

What if my contract is already signed? Eligibility is set by contract date. Contracts signed on or after 21 October 2024 fall inside the window (BP3 p.100).

Next steps for buyers

If you are weighing up an off-the-plan apartment, townhouse or unit, the extension to 21 April 2027 is the date that matters. For a fixed fee on your conveyancing, request an instant quote. For the broader Budget, see our Victorian Budget 2026-27 property guide and our stamp duty Victoria 2026 Budget update. First home buyers can also see how the first home buyer stamp duty rules sit alongside this concession, or visit our off-the-plan conveyancing service page.

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This article summarises the Victorian Budget 2026-27 as published on 5 May 2026. It is general information, not legal advice. For matters specific to your transaction, contact Tick Box Conveyancing.