First Home Owner Grant
LUXURY HOMES AUSTRALIA
WE SPECIALISE IN HELPING FIRST HOME BUYERS
First Home Owners Grant
It’s natural to be a little nervous when you’re buying your first home. There’s no denying it’s a big commitment, but it doesn’t have to be daunting. In fact, at First Home Owner Grant, we believe it should be exactly the opposite. It’s something you do only once, something you’ve looked forward to for many years, and something that will be your financial foundation for the rest of your life. So we think it should be fun, exciting and rewarding.
We make finance easy. We have helped lots of Australians into their first home or investment and we’ve been doing it for over 10 years. Not only do we have the perfect range of homes for first home buyers, but we also know the process inside out and we can guide you through it, so there are no hiccups along the way. That guidance starts now.
$10,000 First Home Owner Grant
Is available when you buy or build your first new home. The FHOG is $20,000 for new homes built in regional Queensland, for contracts signed from 1 July 2017 to 30 June 2022.
Your first home can be a house, townhouse, apartment, unit or similar. The amount paid for the home, that is the contract price for construction when building the home, must be $750,000 or less. It must also be the first sale of the property as residential premises and the home must be less than five years old.
It cannot be an investment property or a holiday house. The FHOG may be paid in addition to other exemptions or concessions for eligible homebuyers, including pensioners.
The timing of your FHOG payment depends on the contract you sign to buy or build your new home, and whether you lodge your application directly with us or via an approved agent.
The First Home Owners Grant (FHOG) is a payment from the Australian Government. It is a genuine grant that you don’t have to repay; nor do you pay interest on it. Luxury Homes Australia will guide you through the entire application process for the First Home Owners Grant.
Check Your Eligibility
Your answers to seven checklist questions on the Application for First Home Owner Grant (FHOG-Form-02) determines your eligibility to receive the grant. You can also use our online tool to assess your eligibility.
You are not entitled to the FHOG if you or your spouse/partner have previously:
- Received a first-home owner grant in Australia.
- Owned a home or other residential property in Australia, either jointly or separately, before 1 July 2000.
- Occupied, for a continuous period of at least six months, a home which either of you owned or part-owned on or after 1 July 2000 in Australia.
- You may still be eligible for the FHOG if you or your spouse/partner purchased a property on or after 1 July 2000 and have not lived there as your home.
Additionally, To Receive The FHOG At Least One Applicant Must:
- Must occupy the home as their principal place of reside (PPR) for at least 12 months, commencing within 12 months of settlement or completion of construction.
- Be aged 18 or over (discretionary).
- Be an Australian citizen or permanent resident:
- In the case of the purchase of a new home – as at the date on which the applicant/s become entitled to possession of the home under the contract, which generally occurs on the date of settlement.
- In the case of entering into a comprehensive building contract – as at the date on which the building is ready for occupation as a place of residence, which generally occurs when construction of the home is finished.
- New Zealanders holding a special category visa under s32 of the Migration Act 1958 and anyone holding a permanent visa under s30(1) are considered permanent residents for these purposes.
- New Zealand citizens must be living in Australia when the eligible transaction is completed.
- Full FHOG eligibility criteria are outlined in the lodgement guide.
- Penalties and interest will apply if you receive the FHOG and are not entitled to it.
- In addition to the FHOG, the government offers a very generous concession on stamp duty when you purchase vacant land.
Luxury Homes Australia have assisted our clients to use property as a vehicle to create substantial wealth. Insightful well-managed property investment provides ongoing income, capital growth and tax advantages.
Mobile: 0409 255 072
Office 1300 680 690
Level 13/50 Cavill Ave.
Surfers Paradise QLD 4217
With over 10 years of Property Market Intelligence and Experience we empower First Home Buyers and Property Investors to buy their Property with Knowledge