Key Dates to Remember for Off-the-Plan Concessions in Victoria

If you're considering buying off the plan in Victoria, staying informed about government concessions and key dates is essential. Off-the-plan property purchases can offer significant financial advantages, especially when you qualify for stamp duty exemptions or discounts. But these benefits don’t last forever, many are time-sensitive, and understanding the key cut-off points can help you maximise your savings.

Here’s everything you need to know about off-the-plan concessions in Victoria, from eligibility criteria to crucial timelines that could impact your property investment.

What Is the Off-the-Plan Concession?

The off-the-plan concession is a Victorian government initiative that reduces the dutiable value of a property when you buy before construction is complete. This means the stamp duty you pay is calculated based on the value of the land and construction up to the date of contract signing—not the final market value.

This concession can result in significant savings, especially for first home buyers or those purchasing apartments and townhouses in developing areas like Melbourne’s inner suburbs or regional growth corridors.

Key Dates to Keep in Mind

To qualify for the off-the-plan concession in Victoria, timing is everything. Here are the most important dates to consider:

• Contract of Sale Date: This is the date that determines your eligibility. You must sign the contract before the concession ends or before any new rules take effect.
• Settlement Deadline: Some concession conditions require settlement to occur within a specific timeframe. Delays can risk losing your eligibility.
• Construction Start and Completion Dates: These dates don’t directly affect your eligibility for the concession but may impact your access to finance and how long you’ll be paying instalments or deposits.

Always check with your conveyancer or legal advisor to make sure your contract aligns with the latest concession guidelines.

Who Is Eligible?

The off-the-plan concession in Victoria is available to:

• First home buyers
• Owner-occupiers
• Purchasers of principal places of residence under a specified value cap

If you're an investor, the concession may not apply unless you meet additional criteria. The rules can change, so it’s important to confirm current eligibility with the State Revenue Office (SRO) of Victoria.

Why Off-the-Plan Is Still a Smart Choice in Victoria

Despite recent changes in property tax rules, off-the-plan homes remain an attractive option for many buyers. You often get:

• More time to save during construction
• Potential capital gains before settlement
• New builds that are energy-efficient and low-maintenance

Plus, in a growing market like Melbourne, getting in early on a quality development can mean strong future returns—particularly in suburbs with planned infrastructure and population growth.

Looking Ahead: Coposit’s Potential for Victorian Buyers

While Coposit is currently not available for Melbourne projects, buyers in Victoria can still benefit by staying informed about its future expansion. Coposit’s model—secure an off-the-plan property with just $10,000 and pay the rest in weekly instalments during the build—has already helped many Australians access the property market without relying on large upfront deposits or complex financing.

As the platform grows, it may become available in Victoria, offering a new pathway to property ownership for downsizers, first home buyers, and investors alike. If you’re interested in this solution, it’s worth joining the waitlist or following Coposit’s updates to be among the first to know when it arrives in your city.