FIRST HOME OWNERS GRANT
The First Home Owners Grant allows for a tax-free payment of $7,000 to those buying a home for the first time. From time to time the Government applies additional bonuses, boost payments or stamp duty reductions to supplement the grant. Check the relevant state’s State Revenue Office website for full details of your entitlement.
For example up until 30 June 2011, Victoria’s FHOG payments are summarised as follows:
| Contract Date | Conditions | First Home Owners Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total Payment |
| 1 January 2010 - 30 June 2010 | Established Homes | 7,000 | 0 | 2,000 | 0 | 9,000 |
| Newly Constructed Vic Metro | 7,000 | 0 | 11,000 | 0 | 18,000 | |
| Newly Constructed Vic Regional | 7,000 | 0 | 11,000 | 4,500 | 22,500 | |
| 1 July 2010 - 31 December 2011 | Established Homes | 7,000 | 0 | 0 | 0 | 7,000 |
| Newly Constructed Vic Metro | 7,000 | 0 | 13,000 | 0 | 20,000 | |
| Newly Constructed Vic Regional | 7,000 | 0 | 13,000 | 6,500 | 26,500 |
Additional Conditions:
Bonus and Regional Bonus Payments: For contracts entered into 1 July 2009 - 30 June 2010 value of property must not exceed $600,000.
FHOG Payments: For contracts entered into on or after 1 January 2010 the purchase price or construction of the home is not to exceed $750,000. The exception to this requirement is where the contract relates to a home that is on, or is to be built on, primary production land.