D O N ' T   M I S S   O U T ! 

The Queensland Government has announced an extension to the ONE-OFF, 12-month boost of $5,000 to the former $15,000 grant:  
  • Now worth $20,000  
  • Available from 1 July 2016 - 31 December 2017 
Generous Stamp Duty Exemptions or Concessions: 
  • Stamp Duty may be reduced to the point where you don’t have to pay anything 
  • Stamp Duty may be reduced contingent on the price of the home


Stamp Duty Calculator
You MAY be eligible if:
  • You're at least 18 years of age 
  • You or your spouse has not previously owned property in Australia 
  • You're building or buying a new home 
  • The value of the home is under $750,000 
  • You're an Australian citizen or permanent resident
    (or you're applying with someone who is an Australian citizen or permanent resident) 

You MAY NOT be eligible if:
  • You’re under 18 years of age 
  • You or your spouse has already owned property in Australia 
  • Your property is not a newly constructed home (a house, apartment, unit or townhouse) 
  • Your property is not valued under $750,000
  • You’re not an Australian citizen or permanent resident
    (or applying with someone who is an Australian citizen or permanent resident) 


Buying a house is exciting and life-changing. What's not quite as much fun is saving for the deposit.  Just keep in mind, the more money you put down upfront, the less you'll have to borrow.  
Click here for some tips from ASIC's Money Smart Website.

T H E   R U L E S   S T A T E   B Y   S T A T E 

FIRST HOME OWNERS GRANT - AUSTRALIAN CAPITAL TERRITORY *

The First Home Owners Grant in the ACT was (prior to 2013) available for new and established homes. As of September 2013, the First Home Owners Grant has been made more restrictive for first home buyers. Now the First Home Owners Grant is available for new homes only. When the FHOG policy was introduced in the ACT in 2000, the ACT Revenue Office provided up to $7,000 to qualified first home buyers. This figure has increased and as of January 1st 2016, the First Home Owners Grant in ACT has a possible payout of $10,000.

QUALIFYING FOR THE FIRST HOME OWNERS GRANT IN ACT To qualify for the first home owners grant, there are some select criteria you (and your partner) must meet. You (and your partner/s) must purchase your new home as people (and not as a company), who are 18 years or older, with all those who will hold a relevant interest in the property listed as applicants. In addition, the First Home Owners Grant requires at least one applicant to be an Australian citizen or permanent resident. The maximum value of the property must not exceed $750,000, applicants must have never received the First Home Owners Grant from any Australian State or Territory and never: (Prior 1 July 2000) Owned or held relevant interest in a residential property anywhere in Australia; ( After 1 July 2000) occupied a residential property for a continuous period of 6 month, which you (or your partner) held a relevant interest in (either jointly, separately or with some other person) anywhere within Australia. The First Home Owners Grant needs to be submitted within 1 year (after the date of completion) and requires that at least one applicant reside within the new home for a continuous period of 12 months. 
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FIRST HOME OWNERS GRANT - NEW SOUTH WALES *

Prior to 2012, the First Home Owners Grant NSW had a payout figure of $7,000. The 'new' First Home Owner Grant currently provides first home owners $15,000 when they purchase a new home or have their new home built. QUALIFYING FOR THE FHOG IN NSW To qualify for the First Home Owners Grant in NSW, first home owners must have never held a relevant interest in any residential property within Australia (prior to July 1 2000); this applies to your partner as well (regardless of whether they are applicants or not). If you (or your partner) have held relevant interest in a residential property on or after July 1 2000 (but did not live in that property for a six month continuous period); then you may still be eligible for the First Home Owners Grant in NSW. You (and your partner) must be 18 years or older and purchase your home as a 'natural person' (and not as a trust of company) to qualify. 

Additional First Home Owner Grant eligibility criteria; You (and your partner) must have never received the FHOG from any other Australian State or Territory; at least one applicant must be an Australian citizen or permanent resident of Australia, and the value of the property must not exceed $750,000 (at the time of purchase). Lastly, you will need to live in your new home for a continuous period of six months, to qualify. If you (or your partner) are part of the Australian Defence Force and you (and your partner) are listed on the NSW electoral roll, there may be exemptions available for this requirement. If you qualify for the grant, obtain the payout and then fail meet any of the eligibility criteria (such as failing to live in your new home for six continuous months); then you will need to pay back this grant. If you fail to do this, it can result in prosecution and penalties of up to $11,000, payable on top of the outstanding First Home Owners Grant payout figure. 
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FIRST HOME OWNERS GRANT - NORTHERN TERRITORY *

The First Home Owner Grant is available in the Northern Territories for new homes up to a maximum value of $26,000. The First Home Owner Grant was introduced in the Northern Territory on July 1 2000. From then until now, there have been a few changes to eligibility criteria and payout amount. Whilst the grant is restricted for new homes, there are discretions available (in limited circumstances) for homes which have been sold prior but have never been occupied as a home. See the Commissioner's guidelines. Max Property Value to qualify for the First Home Owners Grant is $600,000. 

QUALIFYING FOR THE FIRST HOME OWNERS GRANT IN NT To qualify for the First Home Owner Grant, every person who owns part of the home must be listed as an applicant. You (and your partner) must Australian Citizens or permanent residents who are above the age of 18 and are not purchasing the property as a company or person acting as a trustee. You (and your partner) must have never been paid out the First Home Owners Grant from any Australian State or Territory. Like many states, you (and your partner) will be excluded from receiving the First Home Owners Grant in NT if you (or your partner) have occupied a residential property in Australia, which you (or your partner) owned before or after July 2000. 

FIRST HOME OWNERS GRANT EXEMPTIONS In special circumstances the TRO may approve the FHOG if: All of the applicants are under the age of 18 AND/OR You (and your partner) move into the property after 12 months AND/OR Live in the property for 6 months AND/OR If you & all other applicant can't move into the property immediately after settlement AND/OR you are separated from your partner and you become ineligible for the FHOG because of your partners prior or current interest.  
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GREAT START GRANT - QUEENSLAND *

The First Home Owners Grant QLD was replaced with the Great Start Grant in September 2012. The FHOG / Great Start Grant help’s alleviate the burden when you buy your first home in QLD. Applications for the Great Start Grant in Queensland QLD's are normally processed within 10 days of receiving a finished application. The Great Start Grant application can be submitted anytime within 12 months of completing the property transaction. Currently the Great Start Grant has a payout figure of $20,000 


QUALIFYING FOR THE FIRST HOME OWNERS GRANT To qualify for the Great Start Grant, every person who owns part of the home must be listed as an applicant for the Great Start Grant. Every applicant for the Great Start Grant must be a natural person (i.e. you are a not a company), aged 18 years or older. At least one of the applicants will need to be an Australian Citizen or Permanent resident. Some restrictions apply to the Great Start Grant, such as the type of home which you can claim this grant on. The Great Start grant is available on new homes and the value of the property must not exceed $750,000. Regardless of whether your partner is listed as an applicant on your first homes mortgage, you can not apply for the Great Start Grant if: You (or your partner) have owned or held relevant interest in a residential Australian property. Either you (or your partner) have previously received a First Home Owners Grant / Great Start Grant in any Australian state or territory. 

FIRST HOME CONCESSIONS First home concessions are available on top of the first home owners grant; however they have their own criteria. As usual, you are not eligible for this concession if you don't live in the home claimed, are under 18 or have claimed the first home concession before. You may be able to claim a concession that reduces the amount of duty you have to pay.  If you meet certain eligibility requirements, the duty may be reduced to the point where you don’t have to pay anything. 

You may be eligible for a: 
  • Home Concession - if you’re acquiring a residence that you intend to occupy as your home 
  • First Home Concession - if you’re acquiring a residence that you intend to occupy as your first home 
  • Vacant Land Concession - if you're acquiring vacant land where you intend to build your first home
The first home concession is different to other concessions, where it is not available to people who have held interest in residential land anywhere on earth (not limited to just QLD or Australia). The max home value for this concession is $500,000, however you may still claim this concession, if the property’s value is between $500,000 –$550,000. Properties in this price range will have a concession benefit of $0, however you can benefit from this concessions effect on stamp duty.  

Click here for more on Stamp Duty Concessions OR Exemptions.
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FIRST HOME OWNERS GRANT - SOUTH AUSTRALIA *

In South Australia, the First Home Owners Grant (like in most states) was available for first home owners when purchasing a new home or an established home. This has changed since 30th June 2014, when the grant applied exclusively to the first home owners buying new homes. The amount you receive for the First Home Owners Grant in South Australia is on par with other states like QLD. Currently the First Home Owners Grant pays out new home owners up to $15,000; provided they meet the eligibility criteria. 

FIRST HOME OWNERS GRANT ELIGIBILITY CRITERIA To be eligible for the First Home Owners Grant, at least one applicant must be an Australian Citizen or Australian permanent resident. If you are a New Zealand citizen residing in Australia and you hold a Special Category Visa, you may also apply. All applicants must be at least 18 years old and a natural person (i.e. not a company or a trustee; except for in instances where you are acting on behalf of a person with a legal disability). There is an added requirement for the First Home Owners Grant; you must live in the new property for at least 6 continuous months, starting within the first 12 months, from the new properties settlement date. 

FIRST HOME OWNERS GRANT & PREVIOUS PROPERTIES If you've previously held interest in property before the 1st of July 2000, you will not be eligible for the First Home Owners Grant. This includes all property regardless of whether it was owner occupied or investment properties. If after the 1st of July 2000, you have held interest in a property that was used strictly for investment purposes and you have not lived in this property, then you may eligible for the First Home Owners Grant. To prove your claim, you will be required to submit tenancy agreements, tax return details and current phone & electricity account statements, when submitting your First Home Owners Grant application. FIRST HOME OWNER CONCESSIONS If you are buying an off the plan property, you may be eligible for a Stamp Duty Concession on new or substantially refurbished properties. This concession helps ease the cost of Stamp Duty on first home buyers, and combined with the First Home Owners Grant, pays out up to $21,330. 
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FIRST HOME OWNERS GRANT - TASMANIA *

Tasmania originally offered first home buyers the First Home Owners Grant (FHOG) for new homes, as well as established properties. In July 2014, like many states, Tasmania removed established properties from the list of eligible properties for the First Home Owners Grant. First home buyers in Tasmania have the opportunity to combine two schemes to gain a maximum grant payout of $17,000. These schemes are the First Home Builders Boost, a scheme designed to encourage more home building and boost construction, and the FHOG. The First Home Builders Boost offers a payment of $10,000, whilst the FHOG offers a payment of $7,000 to first home buyers. In order to qualify for these grants (FHOG & First Home Builders Boost), first home buyers must meet some conditions. Buyers must have never owned and occupied (for more than six months) a home in Australia after July 1st 2000; and before this time, buyers must never have owned a property in Australia. As is the case in many states, you must live in the property for which the FHOG applies to for a continuous period of six months, within 12 months of the date that the Certificate of Occupancy is issued to the buyer. All applicants must be at least 18 years old and a natural person (i.e. not a company or a trustee; except for in instances where you are acting on behalf of a person with a legal disability). 
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FIRST HOME OWNERS GRANT - VICTORIA *

In Victoria, first home buyers have access to a maximum figure of $10,000 through the First Home Owners Grant (FHOG). This grant does have a few conditions that may prevent you from receiving the first home owners grant, such as maximum property value, previous property investments, type of home purchased, residency requirements and more. Maximum property value $750,000. The VIC FHOG is limited to properties valued at or below $750,000. Due to the currently high property values in some parts of Melbourne; this can unfortunately mean that some first home buyers will miss out on receiving the First Home Owners Grant. If you or your partner have previously received the first home owners grant, owned a home anywhere in Australia (jointly or separately) prior to 1st July 2000 or lived for 6 months in an Australian home, which you owned or part owned; then you will not be eligible for the First Home Owners Grant. To qualify for the First Home Owners Grant you (and your partner) must be: 18 year or older, Australian Citizens or permanent residents and move into your new home within the first 12 months of settlement/completed construction (and live there for continuous period of 12 months). For the purposes of the First Home Owners Grant, New Zealand citizens or anyone holding a permanent NZ visa are considered to be permanent residents of Australia. In order to qualify for the First Home Owners Grant, they need to be in Australia at time of settlement. 

FIRST HOME BUYERS CONCESSIONS First-home buyer duty concession: Up to 50% of home's value. Available for homes valued at/under $600,000 Off the Plan Concession: A duty concession for off the plan properties; either refurbished lots or land & building packages PPR Concession: Available for homes valued at/under $550,000 Young Farmers concession: A duty concession is available to young farmers who are buying (for the first time) farmland property 

NEW OR ESTABLISHED HOMES The First Home Owners Grant only applies for new homes; however there are concessions available if you are purchasing an established home. If you are buying an established property and meet the eligibility criteria for the First Home Owners Grant; then you may be allowed to claim the First Home Buyer Duty Concession or the PPR Concession. Find out more about these concessions from the Victorian State Revenue Office. 
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FIRST HOME OWNERS GRANT - WESTERN AUSTRALIA *

The First Home Owners Grant in Western Australia provides first home owners with the opportunity for a total grant payout of $10,000. Like many of Australia's states and territories, the First Home Grant in WA has changed over last 2 decades, since its introduction in 2000. As the last state & territory to do so, Western Australia removed established properties as eligible for the First Home Owners Grant in October 2015. 

QUALIFYING FOR THE FIRST HOME OWNERS GRANT WESTERN AUSTRALIA You and any other applicant must be a natural person (i.e. not a company) over the age of 18, with at least one Australian citizen or permanent resident as an applicant and have never received the First Home Owners Grant from any Australian state or territory. In addition, all applicants must have never held interest in an Australian residential property prior to the purchase of your new home. Western Australia differs from other states in that it requires all applicants (not just one applicant) to occupy the new home for a continuous period of 6 months. Whilst this requirement is a little different from most states or territories, it is their property value limit that makes WA’s First Home Owners Grant truly unique. In Western Australia, the First Home Owners Grant is directly affected by the 26th parallel (of south latitude). If your first home is located north of the 26th parallel; the maximum value your first home can be, to still claim the First Home Owners Grant, is $1,000,000. If your first home is south of the 26th parallel; this maximum value drops to $750,000. 
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* Correct as at 1 January 2017