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FIRST HOME BUYER'S KIT
First Home Buyers Qualification and Information |
The First Home Owners Grant Scheme (FHOGS) varies from State and Territory around Australia and can be confusing to work out the process of what to do. We have put together a step by step process: |
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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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What is the Process?
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Who is Eligible? |
To check your eligibility for the grant you will need to answer 7 questions below: |
The seven questions to determine your eligibility for the grant
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| 1 |
Will this be the first time each applicant or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia? |
| 2 |
Does each applicant and their spouse/de facto declare that they have never owned a relevant interest in residential property, either jointly, separately or with some other person before 1 July 2000, in any State or Territory of Australia? |
| 3 |
Does each applicant and/or their spouse/de facto declare that they have never occupied a residential property for a continuous period of at least 6 months in which they held a relevant interest either jointly, separately or with some other person on or after 1 July 2000, in any State or Territory in Australia? |
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Is each applicant a natural person (for example, not a company or trust) and at least 18 years of age at the time of settlement or completion of construction? |
| 5 |
Is at least one applicant a permanent resident or Australian citizen? |
| 6 |
Will at least one applicant be occupying the established home as their principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either settlement or completion of construction? |
| 7 |
Has each applicant on or after 1 July 2000, either; A) Entered into a Contract of Sale or Agreement for the purchase of a home? OR Entered into a contract to have a home built? OR In the case of an owner-builder (ie. laying of foundations), commenced construction of a home? |
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Yes |
If you answered Yes to all the questions, you may be entitled to receive the First Home Owner Grant, subject to the decision being made by the Commissioner of State Taxation. However, if you answered No to question 3 you still may be eligible to receive the grant. |
No |
If you answered No to any of the other questions, you are not eligible for the First Home Owner's Grant. |
How do I Apply? |
Please click on your State below for a step by step guide on how to apply for the Grant in your State: |
Exemptions and Concessions on Transfer Duty and Mortgage Duty |
Within every State/Territory in Australia there are exemptions or concessions available on transfer duty and mortgage duty for people who are buying or building their first home. This includes buying vacant land on which you intend to build your first home. |
The schemes are administered by the Office of State Revenue of your State to help first home buyers to purchase or build their first home. There are no income or assets tests to qualify for the benefits. Business premises, a holiday house or renovations to an existing home do not qualify for first home benefits. |
Following will be an overview of these schemes. For further information and to apply for these exemptions/concessions, click on your Office of State Revenue at the end of the document. |
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STEP 1 - How much is the Concession or Exemption? |
Have a look at the table below referring to your State to get an idea whether you get exempt from all Duties or whether you're entitled to a concession: |
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HOUSE PURCHASE |
| State |
Concession from Duties (if purchase price is between) |
Exempt from Duties (if under) |
| NSW |
$500,000 |
$500,000 to $600,000 |
| QLD |
$320,000 |
$320,000 to $500,000 |
| VIC |
$150,000 |
$150,000 to $200,000 |
| ACT |
$290,000 |
$290,000 to $331,000 |
| SA |
$150,000 |
$150,000 to $250,000 |
| WA |
$250,000 |
$250,000 to $350,000 |
| NT |
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Under $350,000 |
| TAS |
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Under $350,000 |
LAND PURCHASE |
| State |
Concession from Duties (if purchase price is between) |
Exempt from Duties (if under) |
| NSW |
$300,000 |
$300,000 to $450,000 |
| QLD |
$150,000 |
$150,000 to $300,000 |
| VIC |
$150,000 |
$150,000 to $200,000 |
| ACT |
$161,000 |
$161,000 to $182,000 |
| SA |
$80,000 |
$80,000 to $150,000 |
| WA |
$150,000 |
$150,000 to $200,000 |
| NT |
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Under $350,000 |
| TAS |
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Under $175,000 |
STEP 2 - Am I eligible? |
Here's an overall look at the criteria you will need to have to be eligible: |
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| YES | NO | CRITERIA |
| | | Have you received payment of the First Home Owner Grant? |
| | | The contract and the transfer must be for the purchase of the whole of the property |
| | | At least one 'eligible purchaser' must occupy the home as their principal place of residence for a continuous period of six months, commencing within 12 months of completion of the agreement |
| | | An 'eligible purchaser' is a natural person (ie not a company or trust) at least 18 years of age who has not, and whose spouse/de facto has not:· At any time owner (either solely or with someone else) residential property in Australia other than property owned solely as trustee or executor· Previously received an exemption or concession under First Home Plus Scheme |
If you have answered NO to one of the above questions, you will not be entitled to receive any exemptions or concessions. However, if you answered YES to all the questions, you may be entitled. Read on for the rest of the overview and then click on your Office of State Revenue at the end of the document to read the finer details.
STEP 3 - Calculate your Entitlement |
Click on your State/Territory below to access the calculator for State. Input your details to be told exactly how much you may be entitled to: |
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STEP 4 - Fill out the Application Form |
Click on your State/Territory below to access your application form. Print it out and send it off to the Office of State Revenue: |
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| Disclaimer |
| This information was accurate at time of release. You should always check the websites to ensure that the relevant government websites to ensure that the correct and current forms are used. |
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