First home owners grant boost ends on December 31
As part of the 2009 federal budget, the federal government phased down the First Home Owners Grant Boost to $10,500 for existing homes and $14,000 for new homes until the end 2009. The reduced first home buyer boost came into effect on October 1.
The new changes will now mean that the first home owners grant boost will revert to its previous format, with a base grant of $7,000, as at January 1, 2010.
Apply for the boost before it ends
To ensure that you take advantage of the first home owners grant while it is still in it's current boosted format, call 13 LOAN ( +61 2 9249 3739 direct) at any time or email us the form below and we will return your call within 2 business hours
First home owners grant eligibility criteria (federal government)
To qualify for the First Home Owners Grant, you need to satisfy the following criteria:
- The application must be made within 12 months of completion of construction or settlement of the home.
- You or a joint applicant must be an Australian Citizen or permanent resident. Requirements vary among states and territories regarding the number of applicants who must be an Australian citizen or permanent resident and age of the applicant.
- You must be buying or building your first your first property as a person, not as a company or trust .
- You or your spouse must not have previously owned an interest in land in Australia that had a residence on it prior to July 1, 2000 .
- You or your spouse must not have owned and occupied a home after July 1, 2000 .
- If you have purchased investment property(ies) after 1 July 2000 as long as you have never owned property before 1 July 2000 and have never lived in the investment property(ies), you should eligible .
- Neither you or your spouse must have claimed this grant previously .
- Entering into a building, in the case of owner-builders, must have occurred on or after July 1, 2000 .
- An eligible home must be located in Australia and be a new or established house, home unit, flat or other type of self-contained fixed dwelling that lawfully can be used as a place of residence.
- An eligible home must be occupied by you as your principal place of residence within 12 months of construction of the home. There are minimum periods of occupancy required by each state or territory.
- Joint applicants are restricted to a single application for a single property and only one payment of $7000 is made.
Additional state government benefits and the first home owners grant
Each state in Australia offers additional grants or duty relief to first home buyers. To get more state-specific information about the first home owner grant or to obtain application forms, please select the state or territory, in which you intend to purchase your home:
More information or help
For 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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