First Homeowners' Grant

In order to assist first home owners the Federal Government provides a grant of $7,000.00 to approved applicants.

In order to qualify for the First Home Owners' Grant:

the buyers and their spouses must not have previously owned a residential property or a share in a residential property anywhere in Australia
all of the buyers must occupy the home as their principal place of residence within 12 months of settlement.

If you are obtaining finance, your bank or lending institution will normally assist with applying for the First Home Owners' Grant and they will arrange collection of the Grant on your behalf. We can also help you with obtaining the grant.

Changes to First Home Owners Grant

As of 1st January 2010 a $1 million cap applies to all first home owners grant applications. If you sign a contract after this date to purchase a property worth $1 million or more you won’t be eligible for the first home owners' grant.

And See HERE for more changes:

First Homeowners' Boost discontinued

The additional boost to the first homeowners' grant allowed by the Federal Government as a response to the global financial crisis has been discontinued. The boost is not available for first home buyers who entered into Contracts on or after 1st January 2010.

For more information from the Qld Office of State Revenue, click here

Article Updated: Thursday January 14, 2010 by Andrew Smyth