I cannot seem to get a straight answer to this. I thought 2019 the vic govt. bought in a new stamp duty on a new build. Forget the incentives being offered at the moment. On a straight purchase of a block you used to pay stamp duty, then could build a new house and not pay stamp duty on that. Around 2019 there was a sneak overnight act bought in that you now have to pay stamp duty on the new house build. But as I havent done the tax on this transaction I dont know whether I paid this or not and just wonder if anyone knows if it is now the law that you pay stamp duty on the land and the new build.
I haven't seen anything to this effect, but the best place to get the answer would be to contact the Victorian State Revenue Office.
Stamp duty generally applies only to the land transfer. It will depend what is on the land at that time as that will affect the dutiable value and include any dwelling if there is one. However efforts to split a new build into two contracts arent valid and the assessable transfer value would be the market value of the property at the time of transfer. OSR can see approvals and "land dealings" to know if it truly vacant. OTP concessions are different and they changed in 2017. A OTP transfer will involve a transfer of title for land AND building which is different to a land acquisition and a later home constructed. Apply for an off-the-plan concession | State Revenue Office
Changes to state taxes June 2019 | State Revenue Office Perhaps OP you are thinking of the higher duty & land tax rates for foreign residents?
my conveyancer has confirmed, stamp duty still only payable on land. The govt must have withdrawn this as we were definitely told it was in in 2020 just as we were signing contracts to have a house built, but were never charged
