The First Home Owners Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on homeownership. It is a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first homeowners who satisfy all the eligibility criteria. In many states, it is not just the First Home Owners Grant, but also concessions or exemption of stamp duty, subject to limits on the value of properties.
We have summarised below each state and how it will work with the HomeBuilder scheme. There are now more reasons to try to get into your own first home, or for family members to assist First Home Owners.
| State | HomeBuilder
(Based on contract signing date) |
First Home Loan Deposit Scheme |
FHOG (Max) |
Total Value | FHOG Stamp Duty |
Eligibility Criteria |
| ACT |
$25,000 $15,000 |
$10,000 | NIL | $35,000 | No Duty where income is below $160,000 or $176,000 as a family | |
| New South Wales |
$25,000 $15,000 |
$10,000 | $10,000 | $45,000 | No Duty up to value of $800,000 | Up to $800,000 |
| Northern Territory |
$25,000 $15,000 |
$10,000 | $10,000 on newly built or to be built | $45,000 | Varies | Newly built or to be built |
| Queensland |
$25,000 $15,000 |
$10,000 | $15,000 property value up to $750,000 | $50,000 | Full Stamp Duty Applies | Value up to $750,000 |
| South Australia |
$25,000 $15,000 |
$10,000 | $15,000 | $50,000 | Varies | No specific rules |
| Tasmania |
$25,000 $15,000 |
$10,000 | $20,000 on newly built or to be built | $55,000 | 50% Discount on all houses (including established) up to $400,000 | Newly built or to be built |
| Victoria |
$25,000 $15,000 |
$10,000 | $20,000 up to value of $750,000 | $55,000 | No duty up to $600,000 and reduced duty up to $750,000 | |
| Western Australia |
$25,000 $15,000 |
$10,000 | $10,000 for new home only, up to value of $750,000 | $45,000 | No duty up to $430,000 and reduced duty up to $530,000 |
Still have questions? We are here to help.
For more information, contact us for finance, property and overall financial assistance at consulting@austasiagroup.com.
