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The First Home Owners Grant (FHOG) is a one-off tax-free Federal Government payment to anyone buying a first home in Australia.
Until June 30, 2010, buying a newly built home will get you a grant of $10,000 and buying a pre-existing home will get you $7,000.
The rules:
- You must be an Australian citizen or permanent resident buying or building your first home in Australia.
- The property you buy must be a recognised house, unit or flat specifically designed for people to live in.
- You or your partner must not have purchased in Australia before.
- You must occupy the home within 12 months of settlement or within 12 months of building completion if it’s a newly built home.
- You must apply for the grant within 12 months of settlement or building completion.
Getting the FHOG
The state and territory governments hand out the grants on behalf of the Federal Government. They also offer additional bonuses for first home-buyers like stamp duty concessions and extra money. Ask us about the perks and lurks that you should know about, or take a look at the website of the revenue office in your state or territory:
We can do the paperwork for you
If you get your loan through Keystone Financial, we’ll do the paperwork for you—wherever you live.
Use the FHOG as a deposit
You may be eligible to use the FHOG as part of your deposit. Contact us and ask us how.