First Home Buyer Grants

boost to First Home Owners’ Grant extended until December 31

The boost to the First Home Owners Grant has been extended until December 31 in the 2009 Federal Budget. Instead of finishing at June 30, the boost will be phased out of the extended 6-month period. From June 30 until October 1, the boost will continue at $14,000 for the purchase of existing properties and $21,000 for the purchase of newly constructed properties. Between October 1 and December 31, the boost to the First Home Owners Grant will be halved to $10,500 for existing properties and $14,000 for newly constructed properties. The First Home Owners Grant will revert to a flat $7,000 as at January 1, 2010.

First home owners grant boost

The amount eligible first home buyers receive under the boost to the First Home Owners Grant is $14,000 for the purchase of existing dwellings, and $21,000 when purchasing or building a new property.

The FHOG provides assistance to Australian citizens and permanent residents when building or purchasing their first home. The FHOG is tax-free, is not means tested and there is no upper limit on the value of the property purchase. To receive the FHOG, each applicant must comply with the eligibility criteria. Criteria for qualifying applicants and properties vary in each State and Territory.

First Home Buyers Grant - More Information and Help

Apart from your first home owners grant, there are stamp duty concessions available in the different states and territories that help save you money. Your Loan Market mortgage broker can help you determine your eligibility for a FHOG and handle all the paperwork. Simply fill in the form or call us at any time on 13 LOAN or direct on +61 2 9249 3739.

first home owners' grant Eligibility criteria

General eligibility criteria includes:

Your application must be made within 12 months of completion of construction or settlement of the home
You must be buying or building your first property as a person, not as a company or trust
You or your spouse/co-purchaser must not have previously owned an interest in land in Australia that had a residence on it prior to July 1, 2000
You or your spouse/co-purchaser must not have owned and occupied a home after July 1, 2000
If you have purchased investment property/s after 1 July 2000 as long as you have never owned property before 1 July 2000 and have never lived in the investment property/s, you may still be eligible
Neither you or your spouse/co-purchaser must have claimed this grant previously
Commencement of building, in the case of owner-builders, must have occurred on or after July 1, 2000
An eligible home must be located in Australia and be a new or established house, home unit, flat or other type of self-contained fixed dwelling that lawfully can be used as a place of residence
An eligible home must be occupied by you as your principal place of residence within 12 months of construction or purchase of the home. There are minimum periods of occupancy required by each state or territory
Joint applicants are restricted to a single application for a single property and only one payment of $7000 is made

In some cases, part-payments may be made if one buyer is eligible but another is not.

Talk to a mortgage broker for more information that's in your best interest.

State-based grants and concessions

As a first home buyer you may also be eligible for a range of state-based grants and concessions. You may also be eligible for stamp duty discounts or exemptions.

first home buyers australia quick links

State Government Information

You can also visit your state government website for further information on general eligibility, qualifying homes, residency requirements, how to make an application, supporting documentation, payment of grant and spouse information.

NSW (02) 9685 2122 www.osr.nsw.gov.au	VIC (03) 9628 6777 www.sro.vic.gov.au	QLD (07) 3227 8733 www.osr.qld.gov.au
WA (08) 9262 1400 www.dtf.wa.gov.au	SA (08) 8266 3750 www.revenuesa.sa.gov.au	TAS (03) 6233 4976 www.treasury.tas.gov.au
ACT (02) 6207 0029 www.act.gov.au	NT (08) 8999 6683 www.nt.gov.au

For more information on first home buyer grants

For more information on government assistance schemes for first home buyers, or the home loan that is in your best interest, talk to your local mortgage broker and we will return your enquiry within 2 business hours. Or call us at any time on 13 LOAN or direct on +61 2 9249 3739.