Off-the-Plan Stamp Duty Concessions Australia 2026: State-by-State Guide

Off-the-plan purchases — buying an apartment, townhouse, or house-and-land package before it’s built — can deliver significant stamp duty savings because the duty is calculated on the property’s value at the contract date, not its completed value. When you sign a contract for a building that’s mostly unbuilt, the dutiable value (what stamp duty is charged on) is much lower than the finished price you’re paying. Each state handles this differently, and the savings can range from a few thousand dollars to tens of thousands. Here’s how the concessions work state by state in 2026.

The common mechanism: dutiable value reduction

Before looking at each state, it’s worth understanding the mechanism all these concessions share. Stamp duty is calculated on the dutiable value of the property — not the contract price. For an existing home, the dutiable value is the purchase price or market value. For an off-the-plan purchase, the dutiable value is reduced by the value of construction work that hasn’t been completed yet at the contract date.

If you sign a contract to buy a $750,000 apartment in a 120-unit tower, and at the contract date the developer has completed the foundation, basement car park, and ground-floor structure — but all 20 residential floors, internal fit-out, landscaping, and common areas are yet to be built — the dutiable value might be assessed at $280,000 (essentially the land component plus partial construction). You pay stamp duty on $280,000, not $750,000. In NSW, this would mean roughly $8,000 in duty instead of approximately $30,000 — a saving of approximately $22,000.

The earlier you sign in the construction cycle, the larger the saving. Sign a contract when only the slab is poured, and you might pay duty on 25% of the purchase price. Sign when the building is at lock-up stage, and the dutiable value might be 60-70% of the purchase price. Sign when the building is complete (effectively an existing property), and there’s no off-the-plan concession — you pay duty on the full contract price.

New South Wales

NSW offers the most generous off-the-plan concession for residential property. Under the current rules, you can deduct construction or refurbishment costs incurred on or after the contract date from the dutiable value. This applies to:

• New residential apartments, townhouses, and house-and-land packages where the dwelling hasn’t been previously occupied
• Substantially refurbished residential property (renovations that make the property suitable for occupation where it previously wasn’t)
• The concession is available to all purchasers — owner-occupiers, first home buyers, and investors

The deduction is from costs the developer incurs after the contract date. This means the timing of your contract relative to the construction schedule determines your saving — and it’s the developer, not you, who determines when contracts are released. Developers typically release contracts in stages: an early release (when the project has DA approval and minimal construction), a mid-construction release, and a near-completion release. The early release offers the largest stamp duty saving but the longest wait until settlement and the most uncertainty about the final product.

NSW also allows stacking this concession with the First Home Buyer Assistance Scheme, meaning a first home buyer can potentially pay zero stamp duty on an off-the-plan apartment under $800,000 while also accessing the $10,000 First Home Owner Grant.

Victoria

Victoria’s off-the-plan concession is available for purchases where the contract is entered into before construction is complete and the property is intended to be the purchaser’s principal place of residence (or, for investors, where the property will be rented to tenants as a residence). The key Victoria-specific rules:

• The concession applies to the first sale of a residence on the land. This means new apartments in multi-unit developments qualify, but a subsequent sale of the same apartment (even if still new and unoccupied) does not.
• Construction costs incurred after the contract date are deducted from the dutiable value.
• For owner-occupiers, the concession applies where the dutiable value (after deduction) is $750,000 or less for the full benefit, phasing out between $750,000 and $1,000,000.
• For investors purchasing a residence intended for rental, the construction cost deduction is available, but investors cannot access the owner-occupier value caps. The concession mechanics still apply — investors benefit from the dutiable value reduction — but without the additional first home buyer relief.

Victoria’s duty rates are the highest in Australia, so the dollar value of an off-the-plan concession in Victoria can be larger than in other states even though the percentage of construction costs deducted is similar. The 8% foreign buyer surcharge means foreign purchasers of off-the-plan properties in Victoria face a particularly high total duty bill, even with the concession applied.

Queensland

Queensland’s off-the-plan concession is narrower than NSW or Victoria but still offers meaningful savings for qualifying purchasers:

• Available for new homes (apartments, townhouses, and house-and-land packages) valued at $550,000 or less
• The purchaser must occupy the home as their principal place of residence within 1 year of settlement (or 2 years for house-and-land where the land settles first and the house is built later)
• The concession reduces the dutiable value — construction costs incurred after the contract date are not included in the dutiable value
• A partial concession applies for homes valued between $550,000 and $600,000

The key limitation is the $550,000 cap, which excludes most new apartments in Brisbane’s inner and middle-ring suburbs. In practice, this concession works best for house-and-land packages in growth corridors (Ipswich, Logan, Moreton Bay) and apartments in regional Queensland centres where prices remain below the cap.

Queensland also offers a first home concession that can stack with the off-the-plan benefit for eligible purchasers, potentially reducing the effective stamp duty to a nominal amount or zero.

Western Australia

Western Australia takes a different approach — rather than a dutiable value reduction mechanism, WA offers a rebate on transfer duty for off-the-plan apartment purchases:

• A 75% transfer duty rebate for pre-construction contracts signed between specific dates on new residential apartments in multi-tiered developments (four or more storeys)
• The rebate applies to the full purchase price, including any variations, but the pre-construction requirement means contracts must be signed before construction commences
• The apartment must be used as a residence — it doesn’t need to be the purchaser’s principal place of residence, but it must be occupied as a residence (not commercial or short-stay accommodation in perpetuity)
• The cap on the purchase price for the full rebate varies, with a partial rebate available at higher price points

WA’s rebate model means the saving is a flat percentage of the duty that would otherwise be payable, rather than a variable amount based on construction progress. For a $600,000 apartment where stamp duty would be approximately $23,000, the 75% rebate reduces the bill to roughly $5,750 — a saving of about $17,250.

This is separate from WA’s first home buyer exemption (full exemption up to $500,000, partial to $700,000 metro) which can stack with the off-the-plan rebate for qualifying first home buyers.

South Australia

South Australia offers an off-the-plan stamp duty concession for apartments and other strata-titled residential property in multi-unit developments:

• The concession reduces the dutiable value by the amount attributable to construction that occurs after the contract date
• It applies to apartments purchased off-the-plan in developments of more than one storey
• The purchaser does not need to be an owner-occupier — investor purchases qualify
• There’s no maximum property value cap for the concession itself, though the base rates still apply

SA’s smaller market means the absolute dollar savings are lower than in NSW or Victoria — a $50,000 reduction in dutiable value saves roughly $1,500-2,000 in SA duty, compared to $2,000-2,500 in NSW — but the percentage saving is comparable when measured against the lower base duty rates.

Other states and territories

The Australian Capital Territory operates under a different system entirely — ACT is transitioning away from stamp duty (conveyance duty) toward higher general rates (land tax). As part of this transition, conveyance duty rates are being reduced each year. Off-the-plan purchases in the ACT benefit from the general duty phase-down plus construction cost adjustments, but the overall savings are declining as the base rates themselves fall. By the mid-2030s, conveyance duty in the ACT is expected to be eliminated for most transactions.

Tasmania offers an off-the-plan concession for new apartments and units where the contract is entered into before construction is complete, with the dutiable value reduced by construction costs incurred after the contract date. It’s modest compared to the mainland states but relevant in Hobart’s apartment market.

The Northern Territory does not currently offer a specific off-the-plan stamp duty concession, though the Territory’s general duty rates are lower than most states, and the First Home Owner Discount provides relief for qualifying purchasers. The NT’s Household Goods Grant and First Home Owner Discount (up to $50,000 combined for new homes) partially offset the lack of an off-the-plan concession.

Strategic considerations

The off-the-plan stamp duty saving is real money, but it shouldn’t drive the purchase decision on its own. A $20,000 stamp duty saving on a $700,000 off-the-plan apartment equates to less than 3% of the purchase price — meaningful but not transformative. The property fundamentals — location, build quality, developer track record, body corporate structure, and your personal timeline — matter far more to the long-term outcome.

If you’re choosing between an existing apartment and an off-the-plan equivalent, the stamp duty saving on the off-the-plan purchase is one line item in a broader comparison that should include: the premium (or discount) for new vs existing, the rent you’ll pay (or forgo) during the construction period, the risk of valuation changes, and the inability to inspect the finished product before committing.

For first home buyers, the ability to stack off-the-plan concessions with first home buyer exemptions can bring the effective stamp duty to zero on purchases that would otherwise attract a five-figure duty bill. In NSW, a $750,000 off-the-plan apartment where the dutiable value is reduced to $400,000 through the off-the-plan concession, combined with the FHB exemption for properties under $800,000, can result in zero transfer duty plus the $10,000 First Home Owner Grant. This combination is the most powerful stamp duty outcome available to any purchaser in Australia.

Use the Stamp Duty calculator to model different purchase scenarios across states. For the off-the-plan concession, enter the reduced dutiable value (not the contract price) to see the duty payable. For detailed state-by-state stamp duty rates for existing properties, see our state comparison guide and the individual state guides.

Disclaimer: This article provides general estimates only and does not constitute financial, tax, or legal advice. Off-the-plan concession rules are complex, vary by state, and change with legislative amendments. Eligibility criteria — including value caps, occupation requirements, and contract timing — differ between states. Always consult a licensed conveyancer or property lawyer for advice specific to your purchase. Last updated: July 2026.