As part of the intergovernmental Agreement, a First Home Owners Scheme has been established in each State and Territory in Australia, effective July 1st 2000 to counter the impact of the GST on first home buyers.

The scheme comprises a one time grant to first home buyers of $7,000.

The Grant will be payable if:

• The Contract for the sale of the house and land, or unit is made on or after 1 July 2000. (Houseboats and mobile homes do not qualify).
• A comprehensive building contract to have a home built is made on or after 1 July 2000 by the owner of the land.
• The building of the home by an owner/builder on vacant land is started on or after 1 July 2000.
• The owners of the home or the owners/builders apply for the grant. (Please note that there is only one grant per eligible transaction. For example joint applicants will be restricted to a single application for a single property and only one payment of $7,000 will be made.

Who is eligible to receive the grant:

• The applicant must be a natural person (not a company);
• One of the applicants must be an Australian citizen or permanent resident;
• The applicant or their partner must not have previously received a grant under this scheme or similar scheme in another state or territory;
• Over 18
• The applicant or their partner must not have previously owned an interest in land in Australia that had a home on it, including an investment home, prior to 1 July 2000;
• One of the applicants will be occupying the home as their principal place of residence within 12 months of settlement or completion of construction.

How to apply for the grant:

• Obtain a special application form from your State or Territory Revenue Office or participating financial institutions.
• Complete and return the application form to your State or Territory Revenue Office or participating financial institutions. How the grant will be paid:
• The grant will be paid by electronic funds transfer or by cheque.

For more information contact: 1300 135 137