First home buyers are generally eligible if they meet the following criteria:

• The home is a ‘new’ home
• The FHOG Application must also be lodged within one year of the purchase of the property
• For payment to be available at settlement or first draw down/progress payment you must lodge your application with an approved agent
• A FHOG cap applies to eligible transactions that commence on or after 1 January 2011.  The cap limits the total value of eligible properties (i.e. total value of home and land) to $750,000 or less.
• The applicant, or an applicant’s partner, must not have received an earlier grant. However an applicant may be eligible if the FHOG was paid but later paid back, either under the conditions on which the grant was made, or together with any penalties and/or interest that may have been imposed
• One of the applicants must be over 18 and be Australian citizen or permanent resident
• The applicant(s) must be natural persons
• Each applicant must occupy the home as their principal place of residence for a continuous period of at least twelve months, commencing within twelve months of completion of the transaction

According to the ACT Revenue Office a ‘new’ or ‘substantially renovated’ property is:

• a home that has not been previously occupied or sold as a place of residence; or
• a substantially renovated home that, as renovated, has not been previously occupied or sold as a place of residence; or
• a property which is subject to an ‘off the plan’ purchase agreement

Please note, substantially renovated properties are eligible for the FHOG but not the stamp duty concessions outlined later in this guide.

As Australia’s premier first home buyer organisation we have access to hundred’s of FHOG eligible homes – enquire today to start your search with the assistance of an FHBA Coach!

The Home Buyer Concession Scheme (HBCS) assist persons in purchasing a new residential home or residential vacant land by charging duty at a concessional (discount) rate. It applies to ‘new’ properties purchased between 7 June 2017 & 31 December 2017 (that fall under the relevant threshold).

New homes thresholds (applicable between 7 June 2017 & 31 December 2017):

• $470,000 (or less) – $20 duty payable
• $470,001 – $607,000 – $13.05 for every $100, or part of $100, by which the dutiable value exceeds $470,000 (minimum $20)
• $607,001 (+) – no concession

Vacant land thresholds (applicable between 7 June 2017 & 31 December 2017):

• $281,200 (or less) – $20 duty payable
• $281.201 – $329,500 – $13.05 for every $100, or part of $100, by which the dutiable value exceeds $281,200 (minimum $20)
• $329,501 (+) – no concession

In addition, to be eligible for a duty concession, the total Gross Income Test must be satisfied. The combined total gross income of all applicants over the full financial year prior to the transaction date, must be less than or equal to the relevant income threshold as follows:

• 0 dependent children = income threshold of $160,000
• 1 dependent children = income threshold of $163,330
• 2 dependent children = income threshold of $166,660
• 3 dependent children = income threshold of $169,990
• 4 dependent children = income threshold of $173,320
• 5 dependent children = income threshold of $176,650

For full details on these transfer duty concessions (including eligibility criteria) please ask your Mortgage Broker or visit the ACT Revenue Office website.

Applying for the FHOG and / or various duty concessions can be a little tricky. While you can check eligibility and apply online by yourself, we recommend you apply through the assistance of one of our FHBA Mortgage Brokers.

Our FHBA Mortgage Brokers are not only experts at finance matters such as home loans and the FHOG, but they are also experienced in helping first home buyers everyday. Our service is free of charge (should you proceed with a home loan option through us). We can check your eligibility, apply on your behalf and be with you every step, providing you with peace of mind that you haven’t missed a thing.

• To learn more about our FHBA Mortgage Broking service and have one of our experts assist you with your application, please visit our FHBA Mortgages home page.
• To apply online by yourself visit the ACT Government website and follow their instructions carefully.

As Australia’s premier first home buyer organisation we have access to hundred’s of FHOG eligible homes, from house & land packages, to townhouses, apartments and more. Called FHBA New Homes, our new homes search service involves us connecting you with leading property developers, builders and real estate experts, to help you find and secure your first home. Meanwhile, your FHBA Coach stay’s by your side every step of the way.

Plus, if you purchase your FHOG eligible home through our FHBA New Homes service you could be eligible for the FHBA 50 Rebate (in addition to any government entitlements you may be eligible for such as the FHOG!).

If you haven’t been introduced to FHBA Coach yet send us an email ([email protected]) or complete the enquiry form and one of our friendly FHBA Coaches will be in touch to provide you with a free Discovery Session.

If you are thinking of purchasing an existing home then unfortunately you will not be eligible for the ACT FHOG or transfer duty concessions, as one of the requirements is that it must be a ‘new‘ home.

If you would like some help with purchasing an established home (such as financing assistance; search assistance or negotiating assistance) we recommend you book in a free Discovery Session with an FHBA Coach.