FIRST HOME BUYERS ASSISTANCE
Appreciating the now increased costs of buying or building a first home with the new Goods and Services Tax implemented on 1 July 2000, the Queensland Government now administers the First Home Owner Grant. When you build or buy your first home, you may be eligible for a $7,000 assistance payment.
Who can apply?
· You are buying or building your first property (not applicable to a company or trust).
· You, or joint applicant/s are Australian Citizens or permanent residents.
· You or other applicant/s or spouse have not previously owned a home prior to 1 July 2000 (this also applies to investment homes).
What type of property is eligible?
The home may be a house, unit, flat or any type of self-contained, fixed dwelling that meets local planning requirements within Queensland, and..
· The home purchase contract is made on or after 1 July 2000.
· As an existing owner of land, you enter into a comprehensive building contract on or after 1 July 2000.
· As an owner builder, you commence construction on or after 1 July 2000.
Applicants must occupy the home as their principal place of residence within 12 calender months of the payment of the grant.
How do I apply?
Application forms are available from the Queensland Government, Office of State Revenue, or an approved agent (most banks and financial lending institutions).
Click here to go to the Government's First Home Owner Grant website and download the FHOG Brochure
How and when is the grant paid?
The grant is paid by electronic funds transfer to a nominated bank account:
· At settlement, for an existing dwelling.
· At the first progress payment for a contract to build.
· At final inspection as an owner builder.
The enclosed information is to act as a guide only, and should not be taken as a substitute for professional legal advice. Further advice may be gained from your solicitor or from Queensland Government, Office of State Revenue.
