As part of the
intergovernmental Agreement, a First Home Owners Scheme has been established in
each State and Territory in Australia, effective July 1st 2000 to counter the
impact of the GST on first home buyers.
The scheme comprises a one time grant to first home
buyers of $7,000.
The Grant will be payable if:
• The Contract for the sale of the house and land, or unit is made on or
after 1 July 2000. (Houseboats and mobile homes do not qualify).
• A comprehensive building contract to have a home built is made on or after
1 July 2000 by the owner of the land.
• The building of the home by an owner/builder on vacant land is started on
or after 1 July 2000.
• The owners of the home or the owners/builders apply for the grant. (Please
note that there is only one grant per eligible transaction. For example joint
applicants will be restricted to a single application for a single property and
only one payment of $7,000 will be made.
Who is eligible to receive the grant:
• The applicant must be a natural person (not a company);
• One of the applicants must be an Australian citizen or permanent
resident;
• The applicant or their partner must not have previously received a grant
under this scheme or similar scheme in another state or territory;
• Over 18
• The applicant or their partner must not have previously owned an interest
in land in Australia that had a home on it, including an investment home, prior
to 1 July 2000;
• One of the applicants will be occupying the home as their principal place
of residence within 12 months of settlement or completion of
construction.
How to apply for the grant:
• Obtain a special application form from your State or Territory Revenue
Office or participating financial institutions.
• Complete and return the application form to your State or Territory Revenue
Office or participating financial institutions. How the grant will be paid:
• The grant will be paid by electronic funds transfer or by cheque.
