Buying or building your first home is a major expense which the Queensland
Government recognises is further increased as a result of the goods and services
tax. To offset the impact of the GST the State and Territories will assist
first home buyers to the tune of $7000 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.
In Queensland, people who buy their first home may also be eligible for a
transfer duty and mortgage duty concession. In addition to the first home owners
grant.
Details of the First Home Owners Grant:
Eligibility
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 is 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 is made on or after 1 July 2000; or
The owners of the land in Queensland makes a comprehensive building contract on
or after 1 July 2000 to have a home built; or
An owner builder starts 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's First Home Buyers web site at www.osr.qld.gov.au