The First Home Owner Grant Scheme has been established by the Federal Government to assist in offsetting the effect of the Goods and Services Tax (GST) on the purchase or construction of a home by a first home buyer.
The Scheme will be administered by the States and Territories on behalf of the Federal Government. The National will participate in the administration of the scheme as Agents of the State and Territories. First home buyers can apply for the grant through their State or Territory Revenue Office or through a participating financial institution.
Eligible applicants will be entitled to a maximum $7,000 grant at settlement or on completion of their home, payable into a nominated account. The home must be a fixed dwelling that meets the local planning standards. The grant will not be available for renovations or for the purchase of vacant land. Payment of the grant is not means tested and there is no upper limit on the value of the property being purchased. However, to receive the grant, each applicant must comply with the eligibility criteria detailed below.
Eligibility
You will generally be eligible for the grant if you satisfy the following criteria:
-
Neither You nor your spouse /de facto must have received the grant previously.
-
Neither You nor your spouse /de facto must ever have owned a residential property, either jointly, or with any other person anywhere in Australia BEFORE 1 July 2000.
-
You or your spouse /de facto must never have owned AND OCCUPIED a residential property, either jointly, or with any other person anywhere in Australia AFTER 1 July 2000.
-
Each applicant must be a natural person - ie not a company or trust.
-
At least one of the applicants must be a permanent resident or citizen of Australia.
-
At least one of the applicants must occupy the established home as their principal place of residence within 12 months of either settlement or completion of construction.
