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First Home Buyers Grant

First, am I eligible and how much is the grant?

What is the First Home Owners Grant? The Government introduced the First Home Owners Grant to help eligible first home buyers buy their first home. It's a one-off grant for $7000 given by the Government to eligible applicants.

If you want to apply for the First Home Owners Grant here are some requirements you first need to meet.

• You must be at least 18 years old and an Australian citizen or permanent resident.
• You must live in the home you buy within the first year of owning it for a period of at least 6 consecutive months.
• You must apply for the First Home Owners Grant as an individual, not as a Company or a Trust.
• The total value of your new home must not exceed $750,000
• You or your spouse or de facto partner must not have owned property previously, nor should you have previously received the First Home Owner Grant.

How and when will my First Home Owners Grant be paid?

The advice changes, depending on whether you're buying or building.

• If you're buying an existing home, your payment will be made at settlement.
• If you're building, your payment will be made on your first progress payment to your builder – provided this is not less than the amount of the grant.
• If you're an owner-builder your grant will be transferred into the agent's account once you've provided evidence the building is completed.

How long does it take to process my First Home Owners Grant application?

It's fast! Usually about 10 working days from the time your application is received.

How will I be paid my First Home Owners Grant?

You'll get your First Home Owner Grant by electronic funds transfer (EFT) into the account you nominate on your application form.

Where can I get more information?

To find out more information on the grant including specific eligibility requirements you can click on your State/Territory government website below. Fingers crossed!

• ACT www.act.gov.au
• NSW www.osr.nsw.gov.au
• NT www.nt.gov.au
• QLD www.osr.qld.gov.au
• SA www.revenuesa.sa.gov.au
• TAS www.treasury.tas.gov.au
• VIC www.sro.vic.gov.au
• WA www.dtf.wa.gov.au

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