First Home Owner Grant Scheme (FHOGS) information

The First Home Owner Grant Scheme (FHOGS) is a government funded scheme which provides a non-means tested payment of $7,000 to eligible first home buyers who are purchasing a property to be used as their principal place of residence.

• The Scheme is not available for the purpose of investment home loans
• Everyone with an interest in the home purchase is considered an applicant
• Customers remain eligible for the grant up to 12 months following settlement.

 

Effective 14th October 2008, first home buyers who qualify for the Federal Government’s $7,000 FHOG may also be eligible for the Federal Governments Boost scheme for an additional amount of $7000 for existing homes. For newly constructed, contract builder and owner builder constructions (subject to certain conditions being meet), first home buyers may be eligible for the $14,000 Boost benefit in addition to the existing $7,000 grant. Applications for the $14,000 Boost Grant for newly constructed homes allow for circumstances as follows:

1. Newly Completed homes
2. Homes to be constructed under a building contract
3. Homes to be built by an owner builder
4. Homes purchased off the plan

 

Like the FHOGS  the Boost scheme is not available for the purpose of investment home loans, everyone with an interest in the home purchase is considered an applicant and customers remain eligible for the grant up to 12 months following settlement

• In the case of Newly completed homes the contract must have been entered into between 14th October 2008 and 30th June 2009 and be the first sale of the home
• For homes being built the contract must have been entered into between 14th October 2008 and 30th June 2009
• In addition, construction must commence within 26 weeks and be completed within 18 months of commencement
• In the case of Owner Builders,  construction (laying foundations) must commence between 14th October 2008 and 30th June 2009 and be completed within 18 months of commencement
• In the case of off the plan purchases the $14,000 boost benefit will apply to contracts dated between 14th October 2008 and 30th June 2009 and must specify a completion date on or before 31st December 2010.

 

To find out more about the First Home Owner Grant Scheme, just drop into your local branch or visit your state government site listed below.

 

Victoria

http://www.sro.vic.gov.au/sro/SROWebSite.nsf/whatsnew.htm

Northern territory

http://www.nt.gov.au/ntt/revenue/first_home.shtml

New South Wales

http://www.osr.nsw.gov.au/benefits/first_home/

South Australia

http://www.revenuesa.sa.gov.au/

Western Australia

http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=344

Queensland

http://www.osr.qld.gov.au/fhog/first_home_owner_grant_changes.shtml

ACT

http://www.revenue.act.gov.au/whats_new

Tasmania

http://www.treasury.tas.gov.au/domino/dtf/dtf.nsf/v-fhog/home