2018: What incentives/grants are on offer in my state?

 In Grants & Incentives, Latest news, Other, Research

Check out all the updated changes in July 2018, by clicking here!

As 2018 is already upon us, it is a good idea for first home buyers to refresh themselves with what your State Government is offering in terms of grants, exemptions & concessions. Whilst there haven’t been many changes, we have summarised each state’s current (effective 1 Jan 2018) First Home Owner Grant (FHOG) and stamp duty assistance measures for aspiring first home buyers – if you need any further clarification be sure to book your free FHBA Discovery Session with a first home buyer expert:

ACT

FHOG Remains at $7,000 and is only applicable for purchases or construction of new homes
Stamp Duty
Exemption
NIL duty is payable for purchases of new homes under $470,000
Stamp Duty
Concession
Duty discounts apply for purchases of new homes between $470,000 and $607,000
Eligibility
Criteria
Click here to check if you are eligible

NSW

FHOG Remains at $10,000 for builders of new homes up to $750,000 and purchasers of new homes up to $600,000
Stamp Duty Exemption No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $650,000
Stamp Duty Concession Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $650,000 and $800,000
Eligibility Criteria Click here to check if you are eligible

NT

FHOG Remains at $26,000 and is only applicable for purchases or construction of new homes (no threshold applies). You can also get up to $2,000 under the household goods grant, helping you buy household goods.

If you buy an established property you can get up to $10,000 under the home renovation grant.

Stamp Duty Exemption No stamp duty for eligible first home buyers who purchase an existing dwelling under $500,000
Stamp Duty Concession Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $500,000 and $650,000
Eligibility Criteria Click here to check if you are eligible

QLD

FHOG Remains at $20,000 (until 30 June 2018) for builders or purchasers of new homes up to $750,000
Stamp Duty Exemption No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $505,000
Stamp Duty Concession Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $505,000 and $550,000
Eligibility Criteria Click here to check if you are eligible

FHBA is offering it’s very own assistance measure for fhb’s – click here to find out more!

SA

FHOG Remains at $15,000 for builders or purchasers of new homes up to $575,000
Stamp Duty Exemption There are currently no stamp duty exemptions for SA first home buyers
Stamp Duty Concession A partial stamp duty concession will be available for off-the-plan apartments purchased in a defined area within the Adelaide CBD, with a market value $500 000 or less
Eligibility Criteria Click here to check if you are eligible

TAS

FHOG Remains at $20,000 after the Tasmanian Government extended the boosted FHOG earlier this year for one year, from 1 July 2017 to 30 June 2018.
Stamp Duty Exemption There are currently no stamp duty exemptions for TAS first home buyers
Stamp Duty Concession There are currently no stamp duty concessions for TAS first home buyers
Eligibility Criteria Click here to check if you are eligible

VIC

FHOG Metropolitian Victoria: $10,000 grant for building or purchasing a new house/townhouse/apartment up to $750,000
Regional Victoria: First home owner grant doubles to $20,000 for new homes only, up to $750,000
Stamp Duty Exemption No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $600,000
Stamp Duty Concession Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $600,000 and $750,000
Eligibility Criteria Click here to check if you are eligible

Metropolitian (Melbourne) FHB’s

Regional VIC FHB’s

WA

FHOG Remains at $10,000 for purchases up to $750,000 or $1,000,000 depending on which part of WA you are purchasing your first home
Stamp Duty Exemption No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $430,000
Stamp Duty Concession Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $430,001 and $530,000
Eligibility Criteria Click here to check if you are eligible

Could there be any other first home buyer incentives I am eligible for?

In May 2017, we were proud to launch a brand new financial assistance offer for first home buyers throughout Australia – the FHBA 50 Rebate. The FHBA 50 Rebate is an exclusive cash rebate of 50% of ‘referral fees’ available to eligible FHBA first home buyer clients, designed to boost first home buyers overall financial position upon moving into their first home. You can learn more about the FHBA 50 Rebate here.

First home buyers should also be aware that some governments offer other first home buyer assistance programs and incentives, such as shared equity schemes. Your FHBA Coach will be able to go through what you may be eligible for in your area in your FHBA Discovery Session.

Who can answer my questions?

Got a question on the FHOG or other concessions in your state, or perhaps another question in relation to buying your first home / starting your first home buyer journey? Get your questions answered by an FHBA Coach!

 

Written By,

First Home Buyers Australia

Recommended Posts
First Home Buyers Australia - FHBA

Sign up to our Savers Club:

Sign up to our Buyers Club: