Sunday, June 5, 2011

Australian First Home Owner Grant (FHOG)

The Australian First Home Owner Grant (FHOG) is a national scheme funded by the Federal Government, but administered through each state or territory Revenue Office. The grant offers first home buyers $7,000 towards their first home. From June 1 2010, those intending to buy or build new houses outside of Southeast Queensland will have the grant boosted by an additional $4,000, taking it up to a total of $11,000.

To eligible for the grant

To be eligible for the grant, you must be an Australian citizen or a permanent resident of Australia. You must be buying or building your first home in Australia and you must have the intention of living in the home as your primary residence within 12 months of settlement.

There are no restriction as to your income or the area in which you plan to buy or build. However, if you are planning to purchase your first home with another person, you must both meet the eligibility requirements to receive the grant.

To apply for the grant

In most cases the lenders are able to act as agents for the Revenue Office and help you complete the relevant forms as part of your home loan application.

For information visit:

New South Wales: State Revenue (NSW)
South Australia: Revenue (SA)
Tasmania: First Home Owners Grant (TAS)
Victoria: The State Revenue Office (Vic)
Western Australia: First Home Owners Grant (WA)
Queensland: Office of State Revenue (QLD)

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