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The First Home Owners Grant (FHOG) was introduced around the same time as the GST to help out first homebuyers financially when buying their first home.

The FHOG is non-means tested, which means that providing you satisfy the required criteria, you can get the grant regardless of assets, income, price, or location of the property. The grant is also not taxed, and is obtained through your respective states revenue office. You can go to their websites (see Appendix 2 for websites) and download an application, or you can ask your broker if your respective lender will process the FHOG application for you.  Those that do will more than likely put it straight into your loan account, which is a good thing, unless you make prior arrangements with them.

To be eligible for the FHOG you must first satisfy all the requirements below:

• This is the first time you or your spouse/ de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia.
• You and your spouse/de facto have not owned before 1 July 2000 a residential property, jointly, separately or with some other person, in any State or Territory of Australia.
• You and your spouse/de facto have not owned on/after 1 July 2000 a residential property and occupied that property (other than the property to which your application relates) jointly, separately or with some other person in any State or Territory of Australia.
• Each applicant is a natural person and not a company or trust.
• Each applicant for the grant must be at least 16 years of age. The Chief Commissioner may allow an exemption from this requirement if satisfied the home will be occupied, as the applicant's principal place of residence and the application does not form part of a scheme to circumvent eligibility or entitlement requirements.
• At least one applicant is a permanent resident or Australian citizen.
• At least one applicant will occupy the home as their principal place of residence within 12 months of settlement or construction.
• You have entered a contract for the purchase of a home on/after 1 July 2000 or signed a contract to build a home on/after 1 July 2000. In the case of an owner-builder, you commenced laying foundations on/after 1 July 2000.

The grant can actually be used for anything, however if you're smart you'll realise that it's a bonus that you wouldn't normally have received, and put it into your loan facility. If you and your broker have been smart, the money will still be there for you to use when you want to or need to, however while it's sitting there it's helping pay off your loan more quickly! The other option is to use it towards the extra costs of the purchase, such as the stamp duty or legal fees.

Known as the First Home Owner Boost Scheme, the Federal government has introduced additional grants to First Home Buyers to assist them in purchasing a home.

This grant is in place for property purchases that first home buyers enter into contracts to purchase from the 14th October 2008 until 30th June 2009.

This grant is split into two sections, one for established homes and the other for the purchase of brand new properties. For the purchase of established homes there is an additional $7,000 grant and for new properties an additional $14,000 making a total grant of $21,000 from the Federal government.

In NSW, the NSW government has also introduced the "NSW New Home Buyers Supplement" is a further $3,000 in addition to the federal grant  making available $24,000. (this is in place from 11th November 2008 until 10th November 2009.

The NSW Government has is also introducing a maximum purchase price of $750,000 to receive the grant for purchases from 1 July 2009.

First Home Plus (NSW Government)

A First Home Plus application form needs to be completed.  An application form is downloadable from the Office of State Revenue (OSR) or via an email request or from a solicitor or conveyancer. Generally the Lender will process this and the FHOG.

 The First Home Plus application is submitted at the same time as the purchase agreement is lodged for stamping by the OSR.

Contracts to purchase must have already been exchanged regarding the first home or vacant land. 

 A First Home Plus application must be accompanied by all supporting documents. 

As at 4th April 2004, properties up to the purchase value of $500,000 have no stamp duty payable.  Discounts are also available on stamp duty between $500,000 and $600,000.

If the property has a private dwelling on it:

 If the property is a vacant block of residential land: 

As a first homebuyer, you may be entitled to stamp duty discounts or rebates; depending on your situation or the state you are buying in. You can find more information on stamp duty rebates in your respective states revenue offices websites listed below:

www.ato.gov.au (Australian Tax Office)
www.revenue.act.gov.au (ACT Revenue Office)
www.osr.nsw.gov.au (NSW Office of State Revenue)
www.nt.gov.au/ntt/revenue (NT revenue Office)
www.osr.qld.gov.au (QLD Office of State Revenue) www.treasury.sa.gov.au/revenuesa/ (SA - Revenue SA)
www.treasury.tas.gov.au (TAS Treasury and Finance)
www.sro.vic.gov.au (VIC State Revenue Office)
www.srd.wa.gov.au (WA Office of State Revenue)

Serving members of the Australian Defence Forces may be eligible for the Defence Home Ownership Assistance Scheme (DHOAS), which superseded the Defence Home Owner Scheme. This scheme allows for a subsidiary of the interest payable for approved loans up to $343,258.

Amount of the Subsidy

The subsidy varies depending on length of service and the amount of loan applied.

Conditions of DHOAS

If you have discharged or transferred to the reserves, you may still be eligible for the scheme. For more information on whether you qualify or not, or about the scheme in general, contact the Defence Housing Authority on:

For further information, contact DVA on 1300 4 DHOAS (34627). If calling from overseas ring +61 +7 3815 9450.

or visit their website at
www.dhoas.gov.au

Fill in our Quick Enquiry Form and we will start the process for you.

Please phone 1300 30 6767 or fill in the Quick Enquiry Form