First Home Buyers Boost
The Australian Government first announced a First Home Owner Boost (FHOB) on 14 October 2008, which supplements the Queensland Government funded First Home Owner Grant Scheme.
Until 30 September 2009:
The FHOB boost has been extended and will be available for eligible applications relating to contracts executed on or before 30 September 2009.First home buyers who purchase established homes will receive a boost of $7000, this will double their grant to $14,000.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000, provided the home meets their relevant state or territory energy efficiency and sustainability standards.
For owner builders, the boost will be available to owner builders who commence laying the foundation of their home on or before 30 September 2009.
1 October to 31 December 2009:
Between 1 October 2009 and 31 December 2009, the additional first home buyers boost will apply as follows:
First home buyers who purchase established homes will receive a boost of $3,500, on top of the $7,000 first home buyers' grant - making their total grant $10,500.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $7,000 in additional to the $7,000 first home buyers grant, provided the home meets their relevant state or territory energy efficiency and sustainability standards.
More information on the First Home Owners Boost is available from the Office of State Revenue.
| First Home Owners Boost (new homes) | First Home Owner Boost (established homes) | First Home Owner Grant | |
|---|---|---|---|
| Contracts executed on or before 30 September 2009 | $14,000 | $7,000 | $7,000 |
| Contracts executed between 1 October and 31 December 2009 | $7,000 | $3,500 | $7,000 |
First Home Owners Grant
To offset the impact of the GST, the State and Territories assist first home buyers to the tune of $7,000 through the administration of a uniform First Home Owners Grant (FHOG). The grant, administered in Queensland by the Office of State Revenue, commenced on 1 July 2000 and applies to people who are buying or building their first home.
Who is eligible?
Applicants are eligible if:
- They are buying/building their first property as a person, not as a company or trust;
- They (or a joint applicant) are an Australian citizen or permanent resident;
- They or their spouse have not previously owned an interest in land in Australia that had a residence on it prior to July 1 2000.
If the applicant has been married or living in a de facto relationship for more than two years, neither they nor their spouse can have owned a home, individually or with any other person.
What type of property is eligible?
It does not matter if the applicant is building a new home or purchasing an established home. The home can be a house, unit, flat or any other type of self-contained, fixed dwelling that meets local planning standards.
The transaction is eligible if:
- The contract to buy a home in Queensland was made on or after 1 July 2000; or
- The owners of the land in Queensland made a comprehensive building contract on or after 1 July 2000 to have a home built; or
- An owner builder started building a home in Queensland on or after 1 July 2000.
When is the grant payable?
The grant is paid:
- For the purchase of a home - when the title is registered in the purchaser's name; or
- For the construction of a home - when the building is ready for occupation as a home.
It is important to note that all applicants must occupy the home as their principal place of residence within one year of this event.
For more detailed information visit the Office of State Revenue or email FirstHomeOwnerGrant [at] osr [dot] treasury [dot] qld [dot] gov [dot] au.
