Concession for young farmers when buying land

The Young Farmer Duty Exemption or Concession provides young farmers with a duty exemption or concession when buying their first farm.

Overview

This Young Farmer Duty Exemption or Concession provides young farmers with a duty exemption or concession when buying their first farmland property in Victoria.

The date of transfer (settlement) and not the date of the contract determines which exemption or concession applies.

Transfers of a single parcel of land, on or after 1 July 2018 will be eligible for:

• a full exemption from duty on farmland valued at $600,000 or less
• a concession from duty for farmland valued from $600,001 to $750,000

Check if you can apply

To be eligible, you must be:

• under 35 at the date of the contract for the transfer of the farmland property
• purchasing your first farm, the value of which must not exceed $750,000
• carrying on, or intending to carry on, a business of primary production on the purchased farm