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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.

The additional FHOG provides for a grant, in addition to the $7000 grant mentioned above, for the construction or purchase of eligible new homes. When the additional grant came out, it was for $7000, however was reduced to $3000. The additional grant ceased on the 30th of June 2002.

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 and ex-members of the Australian Defence Forces may be eligible for the Defence Home Owner Scheme. This scheme allows for a subsidiary of the interest payable for approved loans up to $80,000, or $160,000 for joint applicants where they both qualify for the scheme and are married or defacto.

The subsidiary is equal to 40% of the average monthly interest of the loan, which means that if you are eligible and have a loan under the scheme, defence will pay 40% of your interest (not of your whole repayment, just of the interest portion) for loan amounts or the loan portion of up to $80,000.

The scheme is available to Australian Defence Force members who first joined the full-time services after 15 May 1985, and have completed a basic service period of five years, and have accrued a subsidiary period. Members who joined before 15 May 1985 are also entitled to the assistance, provided they elected to revoke their Defence Service Home Loan entitlement in 1991.

The way it works is that the subsidiary will be paid for a period of time equal to that which you have served, after your initial five years. For example, if you have served a total of nine years, the subsidiary will be paid for four years.

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:

1800 249 711
or visit their website at
www.dha.gov.au

Any amount may be borrowed subject to the NAB's normal lending conditions, however the subsidiary will only be calculated on the amount up to a maximum of $80,000. Before applying for the scheme/loan, you must obtain and complete and entitlement certificate. The certificate verifies to the NAB that you may be entitled to the payment of a subsidiary under the Defence Home Owners Scheme.

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