Peard Finance

First Home Owner Scheme

If you are buying or building your first home, you may be eligible to apply for the First Home Owner Grant (‘FHOG’).

As announced in the 2015/16 State Budget, from 3 October 2015, first home owners buying an established home will not be eligible for the FHOG for contracts signed on or after that date. However, contracts for the purchase of an established home dated from 25 September 2013 until 2 October 2015 will still be eligible to apply for the FHOG of up to $3,000. First home owners buying or building a new home are able to apply for a grant of up to $10,000. First home owners buying an established or new home, or building a new home, may be eligible for the First Home Owner Rate (‘FHOR’) of stamp duty. There are no income or assets tests to qualify for the FHOG. The current FHOG applies to new residential dwellings only and does not apply to established homes, vacant land, business premises, holiday houses or minor renovations to an existing home.
 

Eligibility for the FHOG

To be eligible for the FHOG, applications must satisfy the following eligibility criteria:  Each applicant must be a natural person (i.e. not a company or trust) 2.  Each applicant must be 18 years of age or over at the date of making an application. 3.  At least one of the applicants must be an Australian citizen or permanent resident at the date of making an application.  Each applicant and/or their spouse4 cannot have previously received a FHOG or FHOR of duty under this scheme.  Each applicant and/or their spouse cannot have owned residential property anywhere in Australia before 1 July 2000.  Each applicant and/or their spouse cannot have previously owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence before 1 July 2004.  Each applicant and/or their spouse cannot have previously owned residential property anywhere in Australia on or after 1 July 2000 and occupied that property as a place of residence for a continuous period of at least six months that began on or after 1 July 2004.  Each applicant must occupy the home as their principal place of residence for a continuous period of at least six months, commencing within twelve months of completion of the eligible transaction. Each applicant must have entered into an eligible transaction on or after 1 July 2000.
 

For more information on the FHOG please go to https://www.finance.wa.gov.au/cms/uploadedFiles/_State_Revenue/FHOG/FHOG_Fact_Sheet.pdf