First Home Grant - Great Start GrantIn September 2012, the Queensland Government introduced a first home owner grant which is currently $15,000 for first home buyers.

The Great Start Grant is available for:

  • people buying or building a brand-new house, apartment or townhouse
  • off-the-plan homes
  • owner-builder constructions.

To be eligible:

  • the property must be a new home
  • it must be under $750,000
  • you must be buying or building your first home. You – or your spouse – cannot have previously owned property in Australia
  • you must be at least 18 years of age, and an Australian citizen or permanent resident, or applying with someone who is a citizen or permanent resident.

You must also:

  • live in the home
  • move in within 1 year
  • live there for at least 6 months continuously.

Interested?
Visit qld.gov.au/greatstartgrant for full grant conditions and everything you need to know about the grant and your eligibility.

qld.gov.au/greatstartgrant

First published April 2013 – distributed by the Office of State Revenue. This information current at time of printing but may change without notice. This material is an information source only – prospective applicants should consult the website first before applying. OSR does not accept liability to any person for any loss or damage incurred as a result of reliance on the material provided.


 

nsw-govFirst Home Owner Grant (New Homes) scheme

The First Home Owner Grant (New Homes) scheme (the Scheme) was established to assist eligible first home owners to purchase a new home or build their home by offering a $10,000 grant.

The Scheme applies to new homes only.

What is a new home?

A new home is:

  • a home that has not been previously occupied, including occupation by the builder, a tenant or other occupant.
  • a home that has not been previously sold as a residence. Where the home is being purchased, it must be the first sale of that home
  • a home that has been substantially renovated and a home built to replace demolished premises.

Am I eligible?

To be eligible for the $10,000 grant:

  • the contract date must be on or after 1 October 2012
  • the home is a brand new home
  • you are over 18
  • you or your spouse (including de facto spouse) have never held a relevant interest in any residential property in Australia prior to 1 July 2000.

However, you may be eligible if you or your spouse, including de facto spouse, have only had a relevant interest in any residential property in Australia on or after 1 July 2000 and you have not resided in that property for a continuous period of at least 6 months.

  • the value of the property must not exceed the First Home Owner Grant Cap of $650,000 for contracts dated between 1 October 2012 to 30 June 2014
  • the value of the property must not exceed the First Home Owner Grant Cap of $750,000 for contracts dated on or after 1 July 2014
  • you have not received a first home owners grant in any State or Territory, unless subsequenly repaid
  • you need to live in the home for a continuous period of at least 6 months
  • at least one applicant is a permanent resident or Australian citizen
  • each applicant must be a natural person and not a company or trust.

If you cannot meet all of the eligibility requirements, you are not eligible to receive the grant. If you receive the grant and fail to meet the eligibility requirements (for example, not living in the home for a continuous period of at least 6 months), you need to payback the grant. Failure to do so can result in prosecution and penalties up to $11,000.

If you are part of the Australian Defence Force and all applicants are on the New South Wales electoral roll, you may be eligible for an exemption from the 6 month residence requirement.

How can I apply for a first home grant?

You can apply for the grant through your financial institution or directly through us.

Applications lodged with financial institutions will have the grant available for settlement or for the first draw down on contracts to build. For a list of approved agents, visit the Approved Agents page.

If applying directly with us, the house must be complete and you must be registered on title.

Applications must be lodged within 12 months of completion or settlement of your new home. Your agent (for example, a solicitor or conveyancer) can help you lodge your application and documents with us.

http://www.firsthome.gov.au/ 


First Home Owner Grant – Regional Victoria                     

These initiatives have to be approved by the Victorian Parliament before they can begin. You should only rely on the exact detail of the changes once the legislation is passed. This is likely to be in June 2017.

Here are the answers to some frequently asked questions about proposed changes to the First Home Owner Grant (FHOG) for regional Victoria.

1. What is the new $20,000 FHOG?

The current First Home Owner Grant (FHOG) is a payment of $10,000 available to eligible first-home buyers who buy or build their new home valued up to $750,000.

The new, increased FHOG payment of $20,000 is for first-home buyers who buy or build their new home valued up to $750,000 in regional Victoria.

2. What is a new home?

A new home includes:

  1. A newly built home,
  2. An existing property which is being sold for the first time as a new residential premises,
  3. A land and building package, or
  4. Vacant land on which you will build a new home

Eligible first-home buyers in metropolitan Melbourne will continue to receive the $10,000 FHOG and other applicable assistance.

All first-home buyers in metropolitan Melbourne and regional Victoria must still meet the other FHOG eligibility criteria.

3. What is regional Victoria?

This change affects first-home buyers who buy or build a new home on land in the following municipal councils:

Table of municipal councils in regional Victoria

Municipal councils A-G Municipal councils G-M Municipal councils M-Y
Alpine Shire Council Greater Geelong City Council Murrindindi Shire Council
Ararat Rural City Council Greater Shepparton City Council Northern Grampians Shire Council
Ballarat City Council Hepburn Shire Council Pyrenees Shire Council
Bass Coast Shire Council Hindmarsh Shire Council Borough of Queenscliffe
Baw Baw Shire Council Horsham Rural City Council South Gippsland Shire Council
Benalla Rural City Council Indigo Shire Council Southern Grampians Shire Council
Buloke Shire Council Latrobe City Council Strathbogie Shire Council
Campaspe Shire Council Loddon Shire Council Surf Coast Shire Council
Central Goldfields Shire Council Macedon Ranges Shire Council Swan Hill Rural City Council
Colac Otway Shire Council Mansfield Shire Council Towong Shire Council
Corangamite Shire Council Mildura Rural City Council Wangaratta Rural City Council
East Gippsland Shire Council Mitchell Shire Council Warrnambool City Council
Gannawarra Shire Council Moira Shire Council Wellington Shire Council
Glenelg Shire Council Moorabool Shire Council West Wimmera Shire Council
Golden Plains Shire Council Mount Alexander Shire Council Wodonga City Council
Greater Bendigo City Council Moyne Shire Council Yarriambiack Shire Council

4. What are the key dates you need to know?

The date you sign your contract to buy or build your new home is the key date. Settlement date is irrelevant.

The $20,000 FHOG will be applicable to:

  1. Contracts entered into from 1 July 2017 to 30 June 2020 for the purchase of a new home in a regional area,
  2. Comprehensive home building contracts entered into from 1 July 2017 to 30 June 2020 by the owner of land wholly in regional Victoria, or a person who on completion of the contract will be the owner of land wholly in regional Victoria, to have a home built on the land, and
  3. The building of a home wholly in regional Victoria if the building work commences between 1 July 2017 and 30 June 2020 inclusive

If you are entitled to the FHOG but sign a contract for a first home in regional Victoria before 1 July 2017, you will not be eligible for the $20,000 payment. This is even if you settle on or after 1 July 2017. However, you will still be eligible for the $10,000 FHOG.

5. What types of home/construction qualify?

The eligible transaction can be a contract for:

  • The purchase of a new residential premises (which can be a newly built home or premises that are being sold as a new residential premises for the first time),
  • A comprehensive home building contract, or
  • The construction of a home by an owner builder

6. Who will qualify?

You will qualify if:

  • You purchase or build a new home wholly in regional Victoria,
  • Your contract is signed on or after 1 July 2017 and no later than 30 June 2020, and
  • You meet all the other FHOG eligibility criteria

Owner builders who begin building their home wholly in regional Victoria within this 1 July 2017 to 30 June 2020 period and meet all the other FHOG eligibility criteria also qualify.

 

 


First Home Owner Grant – South Australia                                                     South Australia First Home Owner Grant

The First Home Owner Grant (FHOG) is paid by the State Government to eligible first home owners. The payment is made only after an application has been submitted to and approved by RevenueSA or a financial institution authorised by RevenueSA to process applications.

FHOG applies to the purchase or construction of a new residential property, including a house, flat, unit, townhouse or apartment that meets local planning standards anywhere in South Australia. FHOG ceased for established homes from 1 July 2014.

The residential property must be occupied as each applicants principal place of residence property for a continuous period of at least six months commencing within 12 months of date of settlement for contracts to purchase, or the date construction is completed for owner builders or contracts to build.

How much is FHOG?

The amount of FHOG payable is determined by the date the contract to purchase or build a home is entered into, or the date on which construction commenced for owner builders.

The table below outlines the current grants and concessions available:

New Homes* Up to
First Home Owner Grant (from 15 October 2012#) $15 000
First Home Owner Grant (1 July 2002 to 14 October 2012#) $7000
Please see the First Home Buyers Grants Table for previous amounts
Housing Construction Grant (15 October 2012 to 31 December 2013#) $8500
If you are purchasing an off-the-plan apartment that meets the required criteria, you may also be eligible for a Off-the-plan Concession (stamp duty) $21 330
Established Homes Up to
First Home Owner Grant (from 1 July 2014) NIL
First Home Owner Grant (22 November 2012 to 30 June 2014#) $5000
First Home Owner Grant (1 July 2000 to 21 November 2012#) $7000

# For eligible transactions entered into
It should be noted that if the consideration for the purchase of the property is less than the FHOG and/or additional schemes (e.g. where a property is inherited), the amount of FHOG will not exceed the consideration.

The First Home Buyers Grants Table outlines the maximum payment available, incorporating the First Home Bonus Grant (FHBG), First Home Owners Boost (FHOB) and the stamp duty First Home Concession (FHC) schemes.

*NEW HOME means a home that has not been previously occupied or sold as a place of residence and includes a substantially renovated home (see definition of terms page).

  • EXAMPLE 1
    Mark enters into a contract on 22 February 2015 to build a new home. The contract specifies a construction price of $235 000. The market value of Mark’s land at the time of build contract execution was $250 000 (resulting in a total market value of $485 000).
    As Mark’s building contract was executed after 14 October 2012 and the market value of his property does not exceed $575 000, a $15 000 FHOG is potentially available, provided that all other eligibility criteria are satisfied.
  • EXAMPLE 2
    Jo entered into a contract on 10 June 2014 to purchase an established home. The purchase price was $400 000.
    As Jo’s contract was executed prior to 1 July 2014 and the market value of her property does not exceed $575 000, a $5000 FHOG is potentially available, provided that all other eligibility criteria are satisfied.
  • EXAMPLE 3
    Helen entered into a contract on 5 March 2015 to purchase an established home. The purchase price was $420 000.
    As Helen’s contract was executed after 30 June 2014, no FHOG is available.
  • EXAMPLE 4
    Brooke enters into a contract to purchase a new home on 10 June 2015. The home has never previously been occupied or sold as a place of residence. The purchase price is $575 000.
    As Brooke’s purchase contract was executed after 14 October 2012 and the market value of her property does not exceed $575 000, a $15 000 FHOG is potentially available, provided that all other eligibility criteria are satisfied.
  • EXAMPLE 5
    Daniel enters into a contract to purchase a new home on 28 April 2015. The home has never previously been occupied or sold as a place of residence. The purchase price is $620 000.
    As the market value of Daniel’s property exceeds $575 000, no FHOG is available.
  • EXAMPLE 6
    Zack enters into a contract to purchase a new home from his uncle on 1 January 2015. The home has never previously been occupied or sold as a place of residence. Due to the nature of their relationship, Zack’s uncle agreed to a purchase price of $10 000.
    As Zack’s purchase contract was executed after 14 October 2012 and the market value of his property does not exceed $575 000, a $10 000 FHOG is potentially available, provided that all other eligibility criteria are satisfied. The amount of the FHOG is less than $15 000 because it cannot exceed the consideration paid.

What are the eligibility requirements?

  1. At least one of the applicants must be an Australian citizen or have permanent residency in Australia. New Zealand citizens permanently residing in Australia who hold Special Category Visas may also apply.
  2. The applicant(s) or their spouse(s)/domestic partner(s) must not have previously owned a residential property anywhere in Australia prior to 1 July 2000.
  3. The applicant(s) or their spouse(s)/domestic partner(s) must not have owned a residential property anywhere in Australia on or after 1 July 2000 and occupied that property continuously for six months or more.
  4. All applicants must occupy the home purchased or built as their principal place of residence for a continuous period of at least six months commencing within 12 months after completion of the eligible transaction.It is the responsibility of the applicant(s) to satisfy the Commissioner that they have meet the residency requirements. Applicants may be required to verify this later by providing documentation supporting their period of occupancy (e.g. electricity and gas accounts, bank statements, landline and/or mobile phone accounts and household contents insurance policies).Applicants who do not meet the residency requirements must contact RevenueSA in writing within 14 days of the date on which it first became apparent that the residency requirements would not be complied with, and repay the grant.
  5. Each applicant must be a natural person (i.e. not a trustee or company) except in the cases of legal disability.
  6. Each applicant must be at least 18 years of age at the time of making application for the FHOG.
  7. The property purchased has a market value of $575 000 or less.A property value cap applies to applicants who entered into a contract to purchase or build a home on or after 17 September 2010, or who commence construction as owner builders on or after 17 September 2010. The property value cap is $575 000 and applies to the market value of the property purchased or built.In the case of a contract to purchase a home the market value is:
  • the consideration for the purchase of the home; or
  • where the consideration is less than market value, the market value of the property.

In the case of a comprehensive building contract the market value is:

  • the sum of the consideration for the building contract and the market value of the property on which the home is to be built as at the time the contract is made; or
  • where the consideration for the building contract is less than actual costs, the sum of the actual costs to build the home and the market value of the land on which the home is to be built as at the time the building contract is made.

In the case of an owner builder the market value is:

  • the market value of the property on which the home is situated at the time the home is completed and ready for occupation as a place of residence.

NOTE: in the cases of a genuine farm the market value of the property will be determined on the value of the home and curtilage area of that part of the land that is to constitute the site and curtilage of a home that is to be built on that site.


First Home Owner Grant – Tasmanian                                                               Tasmania First Home Owner Grant

 

First Home Owner Grant (FHOG)

The First Home Owner Grant is a one-off payment for eligible first home buyers/builders in Tasmania. From and including 1 January 2016, the FHOG payment is set at $20,000 for eligible purchasers of new homes (for example a spec home), homes off the plan and owner/builder homes. The payment will revert to $10,000 for transactions entered into after 1 July 2017.

The usual FHOG application process applies for transactions entered into between 1 July 2016 and 30 June 2017 (inclusive). For transactions entered into between 1 January 2016 and 30 June 2016, the SRO will contact you directly about the top up payment.

For more information please read the First Home Owner Grant – Guideline

First Home Owner Grant and Builder Boost Statistics

For the First Home Owner Grant and Builder Boost statistics, please read the fact sheet.

The First Home Owner Grant in other Australian states and territories

Should you wish to purchase a property in another Australian state or territory, the application and payment process may vary. View here the First Home Owner Grant information for other states or territories

State taxes

Duty and Land Tax may apply to some home owners in Tasmania. For information, please use the following links:

Duty

Land tax