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First Home Owner Grant changes

On 14 October 2008 the Australian Government announced a First Home Boost to supplement existing the First Home Owners Grant.

Practically this means that the following will apply to first-time homebuyers who meet the eligibility requirements of the First Home Owners Grant:

  • If the sale contract to purchase an existing or established residential home was entered into prior to 14 October 2008, the first-time homebuyers may only be eligible to receive the existing $7,000 grant.
  • If they enter into a contract to build a new home prior to 14 October 2008, the first-time homebuilders will only be eligible to receive the existing $7,000 grant.
  • If the sale contract to purchase an existing or established residential home is entered into between 14 October 2008 and 30 June 2009, the first-time homebuyers may be eligible to receive a $14,000 grant.
  • If they enter into a contract to purchase a newly constructed home between 14 October 2008 and 30 June 2009, the first-time homebuyers may be eligible to receive a $21,000 grant, provided the home meets Queenslands relevant energy efficiency and sustainability standards.
  • If they enter into a contract to build a new home between 14 October 2008 and 30 June 2009, the first-time homebuilders may be eligible to receive a $21,000 grant.

The following are some of the eligibility requirements for first-time homebuyer grant applicants:

  • The buyers must be a natural person, not a company or person acting in the capacity of trustee
  • They must be an Australian citizen or a permanent resident
  • They must be at least 18 years of age when the contract is entered into.
  • The applicant or their spouse must not have received an earlier grant under the First Home Owner Grant Act 2000 or under a corresponding Act of an Australian State or Territory.
  • The applicant or their spouse must not have previously held an interest in residential property in Australia prior to 1 July 2000. This includes investment homes


    • Josh Pagotto
    Conveyancer

  • The applicant or their spouse must not have previously held an interest in residential property in Australia on or after 1 July 2000 in which The applicant or their spouse have resided (Ownership of an investment property after 1 July 2000 will not prevent you from obtaining the Grant provided you have NOT lived in the home)

 

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