The First Home Owner Grant is is one of the best known grants available and has been highly beneficial in helping Australians buy their first home.
A first home buyer can make the application for the grant themselves or can enlist the help of their mortgage provider.

The following general information was correct at the time of publication. It should not be relied upon. You should make further enquiries by checking the latest advice from your state or territory on the links shown below.

ACT

Forthcoming Changes

The First Home Owner Grant has been retargeted to new and substantially renovated properties from 1 September 2013 where the value of the grant was increased from $7,000 to $12,500. The First Home Owner Grant will not be available for the purchase of an existing property after 1 September 2013 (subject to changes to the FHOG Act currently before the Assembly).

A first home owner grant cap applies for eligible transactions that commence on or after 1 January 2011. The cap limits the total value of eligible properties (i.e. total value of home and land) to $750,000 or less. This cap does not apply to eligible transactions that commenced before 1 January 2011.

NSW

From 1 October 2012, the $7,000 First Home Owner Grant will be replaced by the $15,000 First Home Owner Grant (New Homes) Scheme.

First home owners who purchase or build a new home where the eligible transaction commencement date (contract date) is on or after 1 October 2012 will be eligible for the $15,000 grant. The grant will reduce to $10,000 on 1 January 2016 for eligible transactions which have a commencement date (contract date) on or after 1 January 2016.

The $7,000 first home owner grant for established properties ended on 30 September 2012 and will not be available where the eligible transaction commencement date (contract date) was on or after 1 October 2012.

NT

FHOG is not means tested however, from 1 January 2010 eligibility thresholds and eligibility transaction dates are in effect. See the website above for more information.

QLD

The $7,000 first home owner grant was created to help you buy or build your first home. It is available if you meet the eligibility requirements. This grant is not available to first home owners who purchased an established home on or after 11 October 2012.

SA

RevenueSA administers the first home owner grant along with a number of other grants and concessions for new home buyers. You may be eligible for:

• First Home Owners Grant
•  Housing Construction Grant
• Off-the-plan Stamp Duty Concession

TAS

The First Home Owner Grant (FHOG) scheme commenced on 1 July 2000 to offset the introduction of the Goods and Services Tax.

Eligible applicants are entitled to a one-off payment of up to $7 000. The grant is not means tested and there is no cap on the value an eligible home.

In the 2013-14 State Budget the State Government announced that contracts for established properties, signed on or after July 2014, will no lonber be eligible for the FHOG. This change is subject to the passage of legislation.

VIC

For contracts entered into on or after 1 July 2013, eligibility for the Grant will be limited to buyers of new homes.

For contracts entered into on or after 1 July 2013 to build or purchase a new home, a payment of up to $10,000 is available for eligible first home buyers. For contracts entered into prior to 1 July 2013, a payment of up to $7000 is payable to eligible first home buyers. This grant is not means-tested nor is it restricted by the price of the property for contracts entered into prior to 1 January 2010.

For contracts entered into on or after 1 January 2010, the grant will only be payable where the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.

WA

From 1 January 2010, there has been a cap on the total value of buying or building a home for which the first home owner grant will be payable. The cap limits the total value of properties (i.e. total value of home and land) to $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less.

In August 2013, the government announced that it will reduce the First Home Owners Grant for the purchase of established homes from $7,000 to $3,000, whilst boosting the grant for those looking to build new homes from $7,000 to $10,000, effective from September 15, 2013.

The general information shown above was correct at the time of publication. It should not be relied upon. You should make further enquiries by checking the latest advice from your state or territory on the links shown above.

August 2013

 An MFAA Approved Credit Adviser is not your average mortgage broker.