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The
First Home Owners Grant applies from 1 July 2000. Each State and Territory
Revenue Office is responsible for administrating the grant in their
respective jurisdictions.
The broad principles of the grant are:
- Eligible
applicants will be entitled to a one-off $7,000 payment.
- Eligible
applicants must be natural persons, who are Australian citizens
or permanent residents, who are buying or building their first
home in Australia.
- Applicants
must be at least 18 years of age.
- To
qualify for assistance, neither the applicant nor their spouse
(or de facto) must have previously owned a home, either jointly,
separately or with some other person.
- Entering
into a binding contract or commencement of building, in the case
of owner-builders, must have occurred on or after 1 July 2000.
- An
eligible home will be located in Australia and will be a new or
established house, home unit, flat or other type of self contained
fixed dwelling that meets local planning standards.
- An
eligible home must be intended to be a principal place of residence.
Applicants must occupy the home within 12 months of completion
of construction or settlement and must live in the home for a
continuous period of at least 6 months.
- Assistance
will not be means tested.
- Joint
applicants will be restricted to a single application for a single
property and only one payment of $7,000 will be made.
The
grant assistance will not be income means tested and joint applicants will
be restricted to a single application for a single property and
only one payment of $7,000 will be made. If the consideration of
the home is less than $7000 then the grant amount paid to the applicant
will equal the consideration.
NEW RULES AS OF 1ST JANUARY 2010
As of Friday 1st January 2010 eligibility for the First Home Owners Grant of $7,000 will be restricted as follows:
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NSW – purchase property value capped at $750,000. |
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WA – purchase property value capped at $750,000 for post codes south of the 26th parallel (i.e. from Kalbarri 6536) and $1,000,000 for post codes north of the 26th parallel (i.e. from Denham 6537). |
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VIC – purchase property value capped at $750,000 (a farm purchased as a principle residence is excluded from the cap). |
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QLD – purchase property value capped at $1,000,000. |
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NT – purchase property value capped at $750,000 (First Home Owner Transfer Stamp Duty Concession eligibility will also be capped at $750,000 for established dwellings and $385,000 for vacant land). |
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SA/TAS/ACT – no purchase property value cap applies. |
Conditions for land and construction
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NSW, QLD, WA and NT – Assessment of applications involving construction of a dwelling, including Off the Plan applications, will use the total land and construction value as at the date of the contract. |
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VIC – Assessment of applications involving the construction of a dwelling, including Off the Plan applications, will use the construction value only as at the date of the contract. |
Download the first home owners grant application
form's from the following locations:
To
download the First Home Owner Grant applications you will require
Acrobat reader. This can be downloaded from
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