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First Home Owners Grant and State Based ConcessionsFirst Home Buyers who are eligible for the First Home Owners Grant may also be entitled to a number of state based concessions and bonuses all designed at helping to cut down the cost of your first property purchase. These entitlements range from stamp duty concessions to bonuses similar to the first home buyers grant. Below is a list detailing the various state grants and concessions vailable through out Australia, select your respective state for further information First Home Owners Grants and Concessions in Australia: If you are buying or building your first home in NSW, you may be eligible for state based concessions under the First Home Plus Scheme in addition to the First Home Owners Grant. Under the First Home Plus Scheme, you receive stamp duty exemptions dependant on the market value of your home. To find out how much you are entitled to under the concession or for help with your first home owners grant application, talk to your local mortgage broker. First Home Buyers in Victoria receive an additional payment known as the First Home Bonus when purchasing or constructing properties where the value does not exceed $500,000. Eligibility criteria is similar to the first home owners grant and the amount you recieve is dependant on the property. To determine your eligibility for the concession or to get help compiling and completing supporting documentation, talk to your local mortgage broker. In addition to the First Home Owners Grant, first home buyers in Queensland do not have to pay stamp duty on a home purchase where the property is valued up to $500,000. This could mean a saving of up to $8,750 on a home valued at $500,000. Your local mortgage broker can help you compile supporting documentation and lodge your first home owners grant application. If you are a First Home Buyer in the ACT, you may be eligible to recieve a stamp duty concession under the Home Buyer Concession scheme. These scheme is in addition to the first home owners grant and eligibility criteria varies dependant on the date the transaction to purchase was entered into. The First Home Buyer Concession scheme provides first home buyers in the Northern Territory a stamp duty concession of up to $15,515.50 on the first $385 000 of the property purchase price. This stamp duty discount is in addition to the first home buyers grant. The First Home Bonus Grant is available for first home buyers who qualify to receive a First Home Owners Grant where the market value of the property does not exceed $450,000. The bonus could mean that you get up to $4000 on a 400,000 property. In addition to the First Home Owners Grant, First Home Buyers in Tasmania may also be eligible for the First Home Buyers Duty Concession. The concession is applicable where the buyer has entered into a contract to purchase a house, or has purchased vacant land to build a house. Apart fromt the First Home Owners Grant, first home buyers in Western Australia may also be entitled to the first home owner concession. Under the scheme, eligible first home buyers receive a concession on transfer stamp duty on properties with a dutiable value of up to $600,000 for a house and land, or $400,000 for vacant land. First Home Buyers Grants in Australia:
First Home Buyer Saver Account | First Home Buyers Grant | First Home Buyers Help Website More information or helpFor confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739. |
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