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August 12, 2021

First Home Owners Grant

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State
Amount
Conditions
ACT
n/a
From July 1 2019, the FHOG ACT has been replaced with exemptions on stamp duty(see below section 1.5).
NSW
$10,000
To be eligible, your first home must have a total value below $600,000, and beeither newly constructed or ‘substantially renovated’*. If you plan to build a newhome from scratch, you can still be eligible as long as your land plus the home youbuild have a combined value of less than $750,000.
NT
$10,000
Your income and the price of your home don’t affect the FHOG NT, and the grant isavailable if you buy or build a new house, apartment, duplex or townhouse.
QLD
$15,000
To be eligible, you need to buy a brand new home or build a home from scratch withthe total value (including the land) below $750,000. You may also be eligible if youbuy off the plan or an established home that’s been substantially renovated*.
SA
$15,000
You are only eligible when you buy or build a brand new home, the grant is notavailable if you buy an established home. You can choose from a house,apartment, townhouse or villa, but you will only be able to claim the FHOG SAif you pay below $575,000 for your home.
TAS
$20,000
You are only eligible when you buy or build a brand new home, the grant is notavailable if you buy an established home. The FHOG in Tasmania is currentlyavailable until 30 June 2022. Off the plan purchases are also eligible. In Tasmaniathere is no limit on the purchase price and the grant is not means tested.
VIC
$10,000
The FHOG is available if you buy a newly built home or if you choose to build a homefrom scratch in Victoria. Your first home can be a house, townhouse, apartment, or unitbut it must be valued at $750,000 or less, and it must be a new home – being sold asa home for the first time, and less than five years old
WA
$10,000
You are only eligible when you buy or build a brand new home, the grant is notavailable if you buy an established home. However, a home that has beensubstantially renovated* may be considered a new home. There are limits on whatyou can pay for your first home to be eligible. If you’re located south of the 26thparallel, which basically covers all the Perth metropolitan area, you can claim theFHOG WA if your new home is worth up to $750,000 – this includes the value of theland plus buildings. If you buy or build a home north of the 26th parallel, the propertymust be valued up to or below $1 million.

*Substantially Renovated means all, or most, of the building, has been removed or replaced. As a guide,substantial renovations include replacing or altering foundations or replacing or altering floors.

What is the First Home Owner Grant (FHOG)?

The First Home Owners Grant is a financial helping hand from your state or territory government to help you buy your first home. It is a lump sum of cash available to first home owners to help with the cost of buying a first home or vacant land to build on.

The grant doesn’t have to be repaid and is not taxable, but there are strings attached.

How much is it?

As the FHOG is funded by state governments, there are different amounts available in each state and territory. What you will receive depends on where you are buying.

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Eligibility.

As well as the above conditions that are required to get the funds of the FHOG, there are other rules of eligibility that will dictate if you are able to receive the funds. This criteria differs slightly between states, but some basic conditions apply:

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  • You must be a permanent resident or an Australian citizen.
  • If you’re co-buying with someone else, at least one of you must be a permanent resident or Australian citizen
  • You must not previously have owned or co-owned a home in Australia or have received an Australian First Home Owner Grant in the past.
  • You must be buying a home to live in – not as an investment property
  • You need to live in the home for at least six months after purchase
  • You must be a natural person (not a company or a trust)
  • You need to be aged over 18.

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You must ensure you adhere to the above conditions, as well as the following:

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  • You must not have owned a home or other residential property in Australia, either jointly or separately, before 1 July 2000. However, you may still be eligible for the FHOG if you or your spouse/partner owned property on or after 1 July 2000 but did not live there as your home.
  • You must occupy the home for at least 12 months within 12 months of settling on the property (this is when the keys are handed to you) or from when the home is fully built.

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How to apply?

You are able to apply for any of the FHOG through the Buyer Ready Team. We will be able to submit an application for the grant with your home loan application, which will be paid at settlement of a new home or at the first progress payment for the construction of a new home.

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For each individual state and territory you must ensure you adhere to the above conditions, as well as the following:

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NSW

  • You’ll need to live in your first home for at least six months within 12 months of buying or completion of construction.
  • You may still be eligible for the FHOG in NSW if you’ve previously owned a residential property but you haven’t lived in it for more than six months.

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NT

  • You’ll need to live in your first home for at least six months within 12 months of purchase.
  • You must not have owned residential property in Australia before 1 July 2000.
  • You must not have owned residential property on or after 1 July 2000, which you have lived in

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QLD

  • You may still be eligible for the First Home Owner Grant in Queensland if you have owned an investment property as long as you haven’t lived in it.
  • You’ll need to live in your first home for at least six months within a year of becoming the owner.

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SA

  • You must not have previously owned a residential property anywhere in Australia before 1 July 2000.
  • You must not have owned residential property in Australia after 1 July 2000, which you have lived in for six months or more.
  • You need to live in the home you buy for at least six months within 12 months of taking ownership or following completion of construction.

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TAS

  • You need to live in the property as your home for at least six months within 12 months of completion or purchase.
  • You must not have owned residential property anywhere in Australia prior to 1 July 2000, or lived in a residential property you owned after 1 July 2000.

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VIC

  • You must not have owned a home or other residential property in Australia, either jointly or separately, before 1 July 2000.
  • However, you may still be eligible for the FHOG if you or your spouse/partner owned property on or after 1 July 2000 but did not live there as your home.
  • You must occupy the home for at least 12 months within 12 months of settling on the property (this is when the keys are handed to you) or from when the home is fully built.

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WA

  • If you are under 18, you may be able to apply for an exemption from the age requirement.
  • You need to live in the home for at least six months within 12 months of settlement of buying a home or within 12 months of completion if you’re building a home.
  • Strict rules also apply to any property you may previously have owned. You won’t be eligible for the FHOG WA if:
  • You owned residential property anywhere in Australia before 1 July 2000
  • You owned residential property anywhere in Australia on or after 1 July 2000, and you lived in the property as your home before 1 July 2004, or
  • You owned residential property anywhere in Australia on or after 1 July 2000, and you lived in the property for at least 6 months on or after 1 July 2004.

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Other Grants

Super Saver

The First Home Super Saver Scheme (FHSSS) helps Australians boost their savings for a first home by allowing them to build a deposit inside superannuation, giving them a tax cut. The FHSSS applies to voluntary superannuation contributions made from 1 July 2017. These contributions, along with deemed earnings, can be withdrawn for a home deposit from 1 July 2018. For most people, the FHSSS could boost the savings they can put towards a deposit by at least 30 per cent compared with saving through a standard deposit account as amounts saved through the scheme will only be taxed at 15% instead of your marginal tax rate, this can help you purchase your first home sooner.

References

See the complete list of state based references and resources for you to explore. Each state has their own individual requirements. However, thats why we are here to assist you on your journey of homes ownership.

Stamp Duty Concessions

Stamp duty is one of the upfront costs that apply when you buy a home or vacant land. It is a state government tax and thereforethe rates of duty differ. The amount you will pay for stamp duty will depend on where you are buying, and how much you pay for your home or vacant land. As stamp duty is a state government tax, the concessions on stamp duty will differ from state to state and can be provided with and without the FHOG in most cases.

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