First Home Buyers
If you are a first home owner you may be entitled to receive one or more of the following:
Victoria
First Home Owner Grant (Established and New Homes)
The First Home Owner Grant provides eligible first home buyers with a $7000 grant.
For contracts entered into on or after 1 January 2010, the grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
First Home Bonus (New Homes Only)
1 July 2010 to 30 June 2012 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $13,000 (for new homes only), known as the First Home Bonus (the Bonus).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.
Regional Bonus (New Regional Homes Only)
1 July 2010 to 30 June 2012 (contract date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $6,500 regional bonus is also available (in addition to the $13,000 bonus).
New South Wales
First Home Owner Grant (Established and New Homes)
The First Home Owner Grant provides eligible first home buyers with a $7000 grant.
For contracts entered into on or after 1 January 2011, the grant will only be payable where the price of the property or construction of the home does not exceed $835,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
Queensland
First Home Owner Grant (Established and New Homes)
The First Home Owner Grant provides eligible first home buyers with a $7000 grant.
For contracts entered into on or after 1 January 2010, the grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
SRO Launches iPhone Application For First Home Buyers
The State Revenue Office (SRO) has developed Australia's first iPhone application which allows Victorians to see how much they are eligible to claim in first homebuyer benefits.
The SRO Mobile application - designed by the SRO's IT specialists - allows first home buyers to access important information while house-hunting.
By downloading the free 'SRO Mobile' application from the Apple App Store, you can quickly see if you are eligible to receive the First Home Owner Grant (FHOG), the Victorian Government's First Home Bonus and the Regional Bonus. The application will also automatically calculate how much you may be eligible to receive from the government.