The First Home Owner Grant Scheme (FHOGS) is a Federal Government initiative encouraging first home buyers to take the step from home renting to home ownership. Some say it doesn't go far enough, particularly in the context on co-purchasing as tenants in common have to split the federal grant according to the number of first home owners on the certificate of title.
What is the First Home Owner Grant Scheme?
In October 2008 the Federal Government increased the First
Home Owners Grant until June 2009.
- Eligible applicants are entitled to a one-off $21,000
payment for newly constructed homes.
- Eligible applicants are entitled to a one-off $14,000 payment for established
homes.
Who is eligible for the first home owners' grant?
- Individuals over 18 years of age - a company or trust does not qualify.
- An applicant or applicant's spouse must not have received an earlier grant or previously owned a home in Australia before 1 July 2000.
- At least one applicant must be an Australian citizen or permanent resident
- Joint applicants will be restricted to one application and only one payment will be made.
- At least one applicant must live in the home as their primary place of residence for a continuous period of six months, within 12 months of settlement or construction.
What types of homes are eligible?
- Newly built or established dwellings, including houses and units.
- Houseboats and mobile homes are not eligible.
When will the grant be paid?
- For existing homes, payment will be made at or after completion or settlement.
- For newly built homes, payment will be made after the Certificate of Occupancy/Completion has been issued.
Where can I find more information?
More information and application forms can be found by contacting the Office of State Revenue in your state.
NSW – www.osr.nsw.gov.au
VIC – www.sro.vic.gov.au
ACT – www.act.gov.au
QLD – www.osr.qld.gov.au
SA – www.revenuesa.sa.gov.au
TAS – www.treasury.tas.gov.au
WA – www.dtf.wa.gov.au
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