If you are buying your first home, you may be eligible for the First Home Owner Grant (FHOG).

The FHOG was introduced by the Federal Government to assist first home buyers by offsetting the impact of the Goods and Services Tax (GST) introduced in June 2000.

When you apply for a home loan, as part of your loan application your Broker or Lender will help you apply for the FHOG.

A summary of the FHOG is provided below. Some State and Territory Governments also offer other grants/benefits for first homebuyers. Detailed information about the FHOG for each State and Territory is available from www.firsthome.gov.au

What is the grant?

The one-off grant 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 Federal Government has also announced a First Home Owner Boost Scheme that increases the amount paid to first home buyers for a limited time. In addition, some state and territory governments are offering other grants/bonuses.

Payment of the grant isn’t means tested, and there’s no upper limit on the value of the property purchase.

To receive the grant, each applicant must comply with the eligibility criteria.

What type of home qualifies?

Criteria for qualifying homes vary in each State and Territory. Please check home eligibility at www.firsthome.gov.au

Am I eligible for the grant?

You will generally be eligible for the grant if you satisfy the following:

• Neither you nor your spouse/de facto has previously received the grant.
• Neither you nor your spouse/de facto must never have owned a residential property, either jointly or with any other person, 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, after 1 July 2000.
• Each applicant must be a natural person (i.e. not a company or trust).
• At least one of the applicants must be a permanent resident or citizen of Australia.
• Minimum age requirements have been introduced by all States and Territories.

The criteria concerning occupancy of the purchased property as a principal place of residence varies slightly between each State and Territory. Please refer to www.firsthome.gov.au for criteria of each State and Territory.

If my application is successful, at what stage will I receive the grant?

Payment of the grant may vary for each State and Territory, please refer to www.firsthome.gov.au for when the grant will be paid in your State or Territory. However, generally speaking payment of the grant is as follows:

Established home:		Payment will be made on settlement.
Contract to build:		ayment will be made to the builder at the time of the first progress payment.
Owner builder:		Payment will be on receipt of the Certificate of Occupancy.
New home:		Payment will be at settlement.
Purchase off the plan:		Payment will be at settlement.