The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. 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 home owners that satisfy all the eligibility criteria.
To see if you are eligible or to obtain more information about the First Home Owner Grant, please visit the http://www.firsthome.gov.au/, and then select the state or territory in which you intend to purchase your home.
Maximum Benefits Available (New Homes)
The maximum benefits available to first home owners when they purchase a new home vary from one state to another. The eligibility conditions may also differ from one state to another. The policies may change by relevant governments from time to time. So it is advisable to check with relevant authorities to confirm your eligibility when you purchase iBuild products to build your new home. For more information about the First Home Owner Grant, please visit the http://www.firsthome.gov.au/, and then select the state or territory in which you intend to purchase your home.
* The amount will be reduced to $10,000 from 1 January 2016. The First Home - New Home scheme in NSW provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000.
# This amount will be reduced to $25,000 between 1 January 2015 to 30 June 2015, and then further down to $20,000 from 1 July 2015 onwards.
Last updated: 10 October 2014