First Home Owner Grant
For more information
call 131 900
To help people buy their first home, Federal and State governments provide a one off payment of $7,000.
On October 14, 2008 the Federal Government announced a First Home Owner Boost, increasing the amount of the one-off payment:
- First home buyers who purchase established homes will receive an additional $7,000 increasing the total payment to $14,000
- First home buyers who purchase or build a newly constructed home will receive an additional $14,000, increasing the total payment to $21,000.
How do I qualify?
- You must be an Australian citizen or a permanent resident
- You must be at least 18 years old
- Your house must be your principal place of residence for a continuous period of 6 months within the first year of owning it
- You must be buying or building your own home
- The house must be in the same state or territory in which the application is made
- You have never owned a property or received the grant before. This includes your spouse or de facto if you are co-owners.
For the First Home Owner Boost, some additional criteria applies:- You must be buying or building a home for which the contract was signed (or in the case of owner builders, where construction commences) on or after 14 October, 2008 and before 1 July, 2009
- If you are building a new home (referred to as a "newly constructed home"), the construction must commence within 6 months of signing the contract and must be completed within 18 months of commencement
- If you are buying a new home 'off the plan' (a "newly constructed home"), the contract must specify a completion date on or before 31 December 2010.
- If you are building a new home as an owner builder (a "newly constructed home"), construction must be completed within 18 months of commencement.
How do I apply?
A Westpac Home Loan Expert can process the grant for you or you can apply through a solicitor.
Like to know more?
For further information on the First Home Owner Grant, First Home Owner Boost or other offers you may be eligible for visit the government's First Home Owner website (firsthome.gov.au) or contact the State Revenue Office in your state.
