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First Home Buyers

First home buyers across Australia may be eligible for the First Home Owners Grant (FHOG) which is a one off tax free gift from the Government. As long as you and/or your spouse are first home buyers, over 18 years old and an Australian citizen or permanent resident you may be eligible for the FHOG.

The First Home Owner Grant (the grant) scheme was established to encourage and assist home ownership and to offset the effect of the GST on home ownership by providing a grant to first homeowners. The First Home Owner Grant Act 2000 (the Act) came into effect on 1 July 2000 and the grant is an on-going scheme with no end date yet specified.

The FHOG fluctuates from state to state in terms of both the amounts and the criteria borrowers must meet to secure it. It can include both Federal and State Government incentives but it is administered by the state governments.

If you want to find out if you are eligible or want any more information speak to us. We are well versed on all areas concerning the FHOG and can answer many questions you have. We can even assist in completing the relevant paperwork.

For more information you can visit www.firsthome.gov.au

First Home Owners Grant & Bonus (Victoria)


Contract Date
Conditions

First Home Owner Grant (FHOG)

First Home Bonus #

First Home Owner
Regional Bonus #

Total

From 1 July 2010 to 30 June 2012
Note: This information has been taken from the Premier's announcement on 3/5/2011 and the 2010-2011 Federal Budget. This information is subject to legislative approval.
Established homes only

$7,000

$0.00

$0.00

$7,000

Newly constructed homes in Metropolitan Victoria only

$7,000

$13,000

$0.00

$20,000

Newly constructed homes in Regional Victoria only

$7,000

$13,000

$6,500

$26,500

 

Stamp Duty

Contract settled after 30/6/2011

Contract settled after 30/6/2012

Contract settled after 30/6/2013

Contract settled after 30/6/2014

Stamp Duty discounts for First Home Buyers purchases up to $600K.
Note: This information has been taken from the Premier's announcement on 3/5/2011 Victorian State Budget 2011-12.

20%

30%

40%

50%



See more at www.sro.vic.gov.au