First Home Owners Grant

The First Home owners grant is a national scheme to assist people in purchasing or building their first home.

The scheme commenced on 1 July 2000 and is an ongoing scheme with no end date yet specified. The grant provides $7,000 to people buying their first home. There is no tax payable on the First Home Owners Grant.

All eligible first homebuyers who qualify for the Victorian Government $7000 First Home Owners Grant may be eligible for additional First Home Bonus payments. A $3,000 bonus payment applies to contracts entered into between 1 January 2006 – 30th June 2007. To be eligible to receive this bonus, the property purchase must not exceed $500,000. Both the First Home Owners Grant and the First Home bonus are fully funded by the Victorian Government and are administered by the State Revenue Office.

Eligibility

To be eligible to receive the FHOG, the following eligibility criteria must be satisfied:

• Each applicant and their partner must not have received a grant under a first a First Home Owner Grant Act 2000, in any State or Territory of Australia.
• Each Applicant and their partner must not have owned residential property, either jointly, separately or with some other person prior to July 2000, in any State or Territory of Australia.
• Each applicant and their partner must not have owned and occupied a residential property either jointly, separately or with some other person on or after 1 July 2000 in any State or Territory of Australia.

Transaction Eligibility

• Entered into a Contract of Sale or Agreement for the purchase of an established home, a new home or a home off the plan in Victoria.
• Entered into a contract to build a home on their land in Victoria
  OR
• In the case of owner builders, commenced construction (laying of foundations) of a home on their land in Victoria.

To determine your eligibility for the FHOG, please complete the eligibility checklist which is located at www.firsthome.gov.au and select your state. Note: All applicants and their partners must be considered when answering the eligibility questions

When will the grant be paid?

Established Home	Payment will be at settlement
Contract to build	Payment will be at the time of the first progress payment to the builder.
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.

* FHOG Conditions apply and are subject to change. For further information please visit www.sro.vic.gov.au