loans australia, mortgage, mortgages, loan, finance, home loans, rate busters, commercial loans, internet home loans broker.

mortgage, mortgages, home loans, loan, loans, finance, refinance, consolidate, Australia, morgage, aaa, interest rates, bank, credit, financial advisor, adviser, anz, cba, commonwealth bank, national bank, nab, westpac, st george, suncorp, suncorp metway, adelaide bank, bank sa, bankwest, accu, cps credit union, bendigo bank,

First Home Owner Grant - General Information

To offset the impact of the introduction of the goods and services tax (GST), the

Commonwealth has requested that the States and Territories assist first home buyers through the establishment of the First Home Owner Grant (FHOG).

The First Home Owner Grant applied from 1 July 2000. Each State and Territory Revenue Office is responsible for administrating the grant in their respective jurisdictions.

The broad principles of the grant are:

Eligible applicants will be entitled to a one-off $7,000 payment.
Eligible applicants must be natural persons, who are Australian citizens or permanent residents, who are buying or building their first home in Australia.
To qualify for assistance, neither the applicant nor their spouse (or de facto) must have previously owned a home, either jointly, separately or with some other person.
An eligible home = located in Australia and will be a new or established house, home

unit, flat or other type of self contained fixed dwelling that meets local planning standards.

An eligible home must be intended to be a principal place of residence and occupied within a reasonable period (12 months).
The FHOG assistance is not means (income/asset) tested.
Joint applicants will be restricted to a single application for a single property and only

one payment of $7,000 will be made.

The Grant assistance will not be means tested and joint applicants will be restricted to

a single application for a single property and only one payment of $7,000 will be made.

IMPORTANT: Please check with your State or Territory Revenue/FHOG office before

you intend to purchase your home, as there are minor variations in relation to definitions

and application forms between the states.

Loan Strategies to save thousands off your loan.

Terms and Conditions Apply and rates may change without notice.