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Buying a home

Everything you need to know about the First Home Owners Grant in your state


Buying your first home is an exciting time, it's can also be an expensive one. Between home loans, stamp duty, inspections, and conveyancers, there's plenty to consider. Thankfully, there are several grants and reductions that apply to eligible first home buyers, all of which can help give you a helping hand. Here, we look at what each state offers in terms of a first time home buyers grant, so that when the time is right to buy, you'll know the help available to you.

What is the First Home Owners Grant?

The First Home Owners Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It's a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria (firsthome.gov.au).

How the Grant works for first home buyers – state by state

The First Home Owners Grant details including eligibility criteria varies depending on which state or territory you intend to buy your first home in. Here's how it works in your state^:

First Home Owners Grant QLD

How much can you get? Up to $20,000*.

What can you get it for? New homes valued up to $750,000.

Other exemptions or concessions: stamp duty concessions are available for first home buyers of properties valued up to $550,000. These amounts vary depending on the purchase price. For more information, visit: Queensland Government

First Home Owners Grant VIC

How much can you get? $10,000, or $20,000 for first home buyers in regional Victoria.

What can you get it for? New homes valued up to $750,000.

Other exemptions or concessions: Victorian first home buyers are also exempt from paying stamp duty on properties valued up to $600,000, while a concession is available for properties valued between $600,001 and $750,000. To be eligible, you must use the property is as your principal place of residence (PPR), living there for a year, within 12 months of settlement.

For more information visit: State Revenue Office Victoria

First Home Owners Grant NSW

How much can you get? $10,000.

What can you get it for? New homes valued up to $600,000, or up to $750,000 if you enter a contract to build or are an owner-builder.

Other exemptions or concessions: first home buyers in NSW are exempt from paying stamp duty on homes valued up to $650,000. Stamp duty concessions apply to first home buyers if the value of the home is between $650,000 and $800,000.

For more information, visit: Office of State Revenue New South Wales

First Home Owners Grant WA

How much can you get? $10,000.

What can you get it for? Up to $750,000 for new homes purchased south of the 26th parallel. Up to $1m for new homes purchased north of the 26th parallel.

Other exemptions or concessions: stamp duty concessions are available for first home buyers of properties valued up to $530,000. These amounts vary depending on the purchase price.

For more information, visit: Government of Western Australia

First Home Owners Grant SA

How much can you get? Up to $15,000.

What can you get it for? New homes valued up to $575,000, if the property is intended as your principal place of residence (PPR) and you intend to live there for 6 months, within a year of settlement.

Other exemptions or concessions: stamp duty concessions apply for first home buyers of off-the-plan apartments only.

For more information, visit: Government of South Australia

First Home Owners Grant TAS

How much can you get? $20,000.

What can you get it for? New homes or off-the-plan properties only. Applicants for the first home owners grant in Tasmania, should note: the $20,000 FHOG will revert to $10,000 as of 30 June 2018.

Other exemptions or concessions: no stamp duty concessions apply for first home buyers.

For more information, visit: Tasmania Government – Department of Treasury and Finance

First Home Owners Grant NT

How much can you get? $26,000.

What can you get it for? New homes only.

Other exemptions or concessions: stamp duty concessions of up to $23,928.60 are available on established homes only, valued up to $650,000.

For more information, visit: Northern Territory Government

First Home Owners Grant ACT

How much can you get? $7,000.

What can you get it for? New or substantially renovated properties valued up to $750,000.

Other exemptions or concessions: stamp duty concessions apply for first home buyers on new homes or vacant land purchases, valued less than $607,000 for new homes and less than $329,500 for vacant land.

For more information, visit: ACT Revenue Office

If you're eligible for your state or territory's first home buyers scheme, it can be a handy boost after you've purchased your first home. Stamp duty exemptions or concessions are another great way that state governments are helping first home buyers enter the property market.

You may be eligible for a first home buyers grant, if so, we can help submit your grant application with your Suncorp Bank Home Loan. Speak to one of our friendly home loan specialists today on 13 11 15 (8.30am - 6pm AEST).

* If purchased before 31 December 2017. After this date, the maximum amount will revert to $15,000.

^ State based information correct as of 24 October 2017.

Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement or Product Information Document before making any decisions about whether to acquire a product

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