|
The First Home Owners Grant is available to people who are purchasing their first home.
The First Home Owners Grant is available either at settlement from the Lender providing your Home Loan, or after settlement of the property purchased by applying direct to the State in question.
You can also approach your Solicitor or Conveyancor.
Further you may also be entitled to Stamp Duty concessions depending on the State or Territory that you made the purchase in.
Some States also provide additional funds to assist in your first property purchase.
AussieWise Finance Group specialises in assisting first home buyers with a variety of home loans but also assists with the first home owners grant and ensures that the application forms are correctly filled in and actioned by the lending institution.
We have highlighted a great deal of information for the first home buyer below and we invite you to browse through.
Broad Principles of the First Home Owners Grant
Below we have summarised the broad principles of the grant which is a Federal Government initiative to assist first home buyers purchase a home:
 |
Eligible applicants from 1 July 2000 are entitled to a one-off $7,000 first home owners grant payment |
|
Joint applicants will be restricted to a single application for a single property and only one payment of $7,000 for the first home owners grant will be made |
|
An eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that lawfully can be used as a place of residence |
|
Neither the applicant nor their spouse (or de facto) must have claimed the first home owners grant previously |
|
To qualify for the first home owners grant, neither the applicant nor their spouse (or de facto) must have owned a home prior to 1 July 2000, either jointly, separately or with some other person |
|
Entering into a binding contract or commencement of building, in the case of owner-builders, must have occurred on or after 1 July 2000 |
|
Neither the applicant nor their spouse (or de facto) must have owned and occupied a home after 1 July 2000 to be eligible for the first home owners grant |
|
Eligible applicants for the first home owners grant must be natural persons, who are Australian citizens or permanent residents, who are buying or building their first home in Australia |
|
An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of completion of construction or settlement of the home |
|
Application for the first home owners grant must be made within 12 months of completion of construction or settlement of the home |
|
The first home owners grant will not be means tested |
|
If the consideration of the home is less than $7,000 then the amount of the first home owners grant paid to the applicant will equal the consideration |
|
There is no tax payable on the first home owners grant |
Depending on the state you purchase a home in there are state based First Home Owners Grant rebates or concession on stamp duty and or mortgage duty and other government charges which would otherwise normally apply.
As you can see, there are many parameters surrounding the first home owners grant and AussieWise is there to help you. It's as simple as contacting us and asking some questions which we are happy to help with.
First Home Owners Grant - State by State
Please follow the links below for more information on concessions and or rebates offered in your State:
How can AussieWise help with the First Home Owners Grant?
AussieWise Finance Group will assist you with the information you need to know and also help you full out the first home owners grant application.
We will also assist you by providing a checklist of supporting documentation required to ensure the first home owners grant is obtained.
Why not contact us to find out more or arrange for a consultant who can help you with the first home owners grant.
 |
Other Useful Links within our site: |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Useful Sites as a point of reference: |
| | | | | | | |
 |
| 
