FIRST HOME BUYER'S GRANT
What is the First Home Owner's Grant Scheme (FHOGS)? |
The FHOGS came into effect on 1 July 2000. It was established to compensate for price increases associated with the Goods and Services Tax (GST) on home ownership by providing a grant to help people purchase or build their first home. It is not a loan and does not need to be repaid.
Eligible first home owners can receive the grant regardless of their income, the area in which they are planning to buy or build, or the value of their first home. The grant is not means tested and no tax is payable on it. The legislation does not include an end date for the scheme.
The grant applies to residential dwellings only. It can be either a new or established dwelling including a house, unit, townhouse or apartment anywhere in that particular State that meets the States planning standards. Vacant land, houseboat or mobile homes are not eligible. |
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How much is the Grant?
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| STATE |
GRANT |
| NSW |
$7,000 |
| QLD |
$7,000 |
| VIC |
$7,000 |
| ACT |
The lesser of $7,000 or the amount you must pay to purchase or build the house |
| SA |
$7,000 |
| WA |
The lesser of $7,000 or the amount you must pay to purchase or build the house |
| NT |
$7,000 |
| TAS |
$7,000 |
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First Home Owner Boost
The First Home Owner Boost, which was launched by the Australian Government,
supplements the State Government funded First Home Owner Grants of $7000. The Boost provides:
- an extra $7 000 to first home buyers who purchase an established home; and
- an extra $14 000 to first home buyers who build a new home or purchase a newly constructed home.
First home buyers will be eligible for the Boost on contracts entered into between 14 October 2008 and 30 June 2009 (inclusive).
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