First Home Owner’s Grant

The First Home Owner's Grant (FHOG) is a Federal Government initiative to encourage home owner's when building or even purchasing their First Home.

The amount eligible first homer buyers receive varies from State, with some first home buyers eligible for grants up to $7,000 (tax free)

 

hand-holding-key

 

The FHOG – "First Home Owner's Grant (FHOG) is a Federal Government initiative to encourage home owners when building or purchasing their First Home, as we all know the amount eligible will vary from state to state, but in Victoria some First Home Buyers are eligible for grants up to $7,000 (tax-free) & Some lenders may allow you to use the grant to boost your home loan deposit.

 

First Home Owner’s Grant – Eligibility Criteria that you must meet!

As an expert Mortgage Broker (FLR Solutions), we will certainly make sure that we process your FHOG application form and communicate with the Lender as well, and will also make sure that your FHOG – is paid to you at settlement

 

YOU MUST CONSIDER THE BELOW ELIGIBILITY CRITERIA

  • You must occupy the home within 12 months of settlement or within 12 months of building completion, if it’s newly built home,
  • The property you buy must be a new or established house, home unit or flat.
  • You or your partner must not have purchased a house, home unit or flat in Australia before
  • You must apply for the grant within 12 months of settlement or building completion
  • You must be an Australian citizen or Permanent resident buying or building your first home in Australia
  • Be buying or building a home for which the contract was signed on or after 1/07/2000, or building a home as an owner builder where building commenced on or after 01st July 2000
  • Be buying or building a home for which the purchase price of the property do not exceed the $750,000 cap for eligible transactions which commenced on or after 01st January 2010
  • Ensure each person holding a relevant interest in the property is an applicant
  • Ensure at least one applicant will reside in the home as their principal place of residence for a continuous period of at least (6) months commencing within 12 months of completion of the eligible transaction
    - It is the responsibility of the applicant to satisfy the Commissioner that they have met the residency requirement. Applicants may be required to verify this later by providing evidence supporting their period of occupancy
    - Should you not meet the residency requirement, you must notify the SRO (State Revenue Office) in writing within 14 days of the notifiable event, and repay the grant.
  • Be a natural person (i.e. not applying as a company or trust), at least 18 years of age at the date of settlement or completion of construction

 

Applicants and their spouse/partner MUST NOT:

  • Have previously received a FHOG – First Home Owner Grant, in any state or territory of Australia. If a grant was received but later paid back together with any penalty you may be entitled to re-apply for the grant.
  • Have previously owned or held a relevant interest in a residential property anywhere in Australia prior to 01st July 2000
  • Have occupied, for a continuous period of at least 6 months, a residential property in which they acquired a relevant interest on or after 01st July 2000 anywhere in Australia.

 

icon-pdf  First Home Buyers Guide

icon-pdf  First Home Buyers Application 

 

If we can assist you, or should you have any questions in relation to the First Home Owner’s Grant – Please do not hesitate to contact us

 

 

GET YOUR FINANCIAL
HEALTH CHECK

Why not?

Find out when our
next event is being held
and connect with FLR
Solutions on Facebook.