The Federal Government introduced the First Home Owners Grant (FHOG) in July 2000 to assist first home buyers. It applies to people who are buying or building their first home.

Currently the grant is $7000 for first home buyers who purchase existing homes.

An additional grant of $3000 or $7000 may also be available for the purchase or construction of certain homes as your first home, depending on the timing of the purchase or construction and a number of other factors.

To be eligible Applicants must:

• Buy/build their first property as a person not as a company or trust.
• Be an Australian citizen or permanent resident
• Have not previously owned an interest in land in Australia that had a residence on it prior to July 1 2000.

If the applicant has been married or living in a de facto relationship for more than two years, neither they nor their spouse can have owned a home, individually or with any other person.

What type of property is eligible?

It does not matter if the applicant is building a new home or purchasing an established home. The home can be a house, unit, flat, or any other type of self- contained, fixed dwelling that meets local planning standards.

When is the grant payable?

The grant is paid:

• For the purchase of a home- when the title is registered in the purchase’s name or
• For the construction of a home-when the building is ready for occupation as a home.

It is important to note that all applicants must occupy the home as their principal place of residence within one year of this event.

In Queensland, people who buy their first home may also be eligible for a transfer duty and mortgage duty concession.

For more detailed information visit the Office of State Revenue’s First Home Buyers web site at www.osr.qld.gov.au

Last updated 2/3/04

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