First Home Buyers Grant

HOW the First Home Owner Grant can help you

There really has never been a better time to be a First Home Buyer when it comes to government assistance.

There are four main aspects to the First Home Owner Grant scheme that may be applicable to you and that can be of substantial assistance to help you buy your first home. The scheme is federal but is administered by the State Revenue Office in each Australian state.
First Homer Owner Grant
This is an ongoing scheme that grants $7,000 to eligible first home buyers. This amount is not affected by the price of your property and it is not means tested.

To be eligible for the First Home Owner Grant you (and your spouse/partner) must NOT have already received a grant OR have owned (or had any ownership) in a property (in any Australian State or Territory) prior to 1st July 2000.

To learn more about eligibility and claiming your grant, please contact us.

First Home Bonus
If you qualify for the First Home Owner Grant, you may also be eligible for the First Home Bonus. Under this bonus, an extra payment is made to you at the time you apply for your First Home Owner Grant.

Bonus amounts vary depending on WHEN you purchase your property and HOW MUCH your property costs.

From 1st July 2009 to 30th June 2010 First Home Bonus amounts range from $2,000 (for established homes) to $11,000 (for new homes). The value of your property must not exceed $600,000.

Accessing the First Home Bonus may impact your eligibility to access pensioner or family expemptions or concessions (as you are able to claim one or the other but not both).

If you have any questions at all about the First Home Bonus give us a call on 1300 556 840 or contact us via email and we can talk through all of your options

First Home Owner Boost
The First Home Owner Boost is an extra incentive that is (at this stage) only available until 31st December 2009.

On top of the First Home Owner Grant and the First Home Bonus, you may be eligible for the following:

For contracts entered between 14th October 2008 and 30th September 2009
$14,000 for new homes
$7,000 for existing homes

For contracts entered between 1st October 2009 and 31st December 2009
$7,000 for new homes
$3,500 for established homes

Regional Bonus
An additional Regional Bonus is available if you purchase property in a regional municipality where your contract date is between 6th May 2008 and 30th June 2010.

Amounts range from $3,000 to $4,500 depending on the date of your contract.

We urge you to act quickly on this front. Contact us to find out just what you are eligible for, enjoy the financial benefits of the First Home Owner Grant scheme and get into your first home!

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