TASMANIA
GUIDE TO FIRST HOME OWNER ASSISTANCE
LEARN ABOUT THE ASSISTANCE
The Tasmania First Home Owner Grant (TAS FHOG) is a Tasmania state government initiative to help first home owners to get their ‘new’ first home sooner. It is an amount of money paid by the Tasmania government to eligible first home owners.
Learn more about the TAS FHOG in our guide below.
“The Federal Government has announced a $25,000 grant for eligible First Home Buyers for contracts signed between 4th June 2020 and 31st December 2020.”
- The TAS FHOG is currently $10,000 for eligible first home buyers purchasing a ‘new’ home
- An additional $10,000 is payable to those who meet stricter criteria between 1 January 2016 and 30 June 2000 (that is a total $20,000 TAS FHOG payment)
Important Tip: Grants and Concessions tend to change at short notice, therefore please double check with your State government what is available in your area before buying your first home!
First home buyers are generally eligible for the $20,000 TAS FHOG if all applicants meet the following criteria:
- Must be buying or constructing a ‘new’ home
- Must be natural persons (i.e. not applying as a Company or Trust)
- Must be at least 18 years of age
- Must be an Australia Citizen or Permanent Resident
- Must not have owned a home in Australia before 1 July 2000
- Must not have owned and occupied, for more than six months, a home in Australia after 1 July 2000
- If building your home or having a home built, you must occupy the home as your principal place of residence for a continuous period of at least 6 months commencing within 12 months of the date the occupancy certificate is issued for the property
- If purchasing your new home, occupy the home as your principal place of residence for a continuous period of at least 6 months commencing within 12 months of settlement
- Must not have received the FHOG before.
If you want to receive the $20,000 TAS FHOG payment, you must meet additional requirements set out by the SRO Tasmania under one of these 4 sub categories:
- Building your home through a registered builder
- Building your home as an owner builder
- Purchasing a home off the plan
- Purchasing a new home
To find more on the additional requirements please see the SRO Tasmania FHOG Guide or ask your Mortgage Broker.
A ‘new’ home is a residential property that has not previously been occupied or sold as a place of residence.
Additionally, to qualify for the FHOG in Tasmania when building your first home, you build must be:
- located in Tasmania
- be fixed to your land: and
- meet the local planning standards
You may also be eligible for the TAS FHOG if you purchase a home that has been substantially renovated and considered new residential premises under the ‘A New Tax System (Goods and Services Tax) Act 1999’ and has not been occupied or sold as a place of residence since those substantial renovations were completed.
From 08 Feb 2018 Tasmanian first home buyers are eligible for a 50% Stamp Duty reduction for properties valued up to $400,000. Key features includes:
- Available for the purchase of established homes
- First home buyers can save up to a maximum of $7,000 in Stamp Duty costs.
This applies to properties settled between 08 February 2018 to 30 June 2020.
For details on these tax concessions as well as other Tasmanian tax concessions please visit the Tasmania SRO website or speak to an FHBA Broker.
Applying for the FHOG and / or various tax 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 qualified 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 specialists 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 TAS SRO website.
As Australia’s premier first home buyer organisation we have access to hundred’s of FHOG eligible homes, from house & land packages through 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 TAS FHOG, as one of the requirements is that it must be a ‘new‘ home.
However, first home buyers are eligible for the 50% stamp duty discount on established properties valued up to $400,000 from 08 Feb 2018 to 07 Feb 2019. The maximum discount applicable is $7,000 for a $400,000 purchase.
CHECK ELIGIBILITY FOR GOVERNMENT INCENTIVES
FHBA’s new & innovative Eligibilty Estimator allows you to self-estimate how your savings are tracking and whether you have enough saved to qualify for a home loan. Upon completion, we will instantly send you a complimentary Australian Property Monitors Postcode Report (Valued at $39.95)
Check how your tracking in 60 seconds!
Disclaimer: The FHBA Eligibility Estimator is intended as an approximate guide only. It uses a mixture of the data you input, median property prices from APM PriceFinder and estimated purchasing costs. You should not rely on the results of the Eligibility Estimator. Please contact an FHBA Coach who can arrange a more comprehensive estimate and advice based on your personal circumstances from a licensed professional.
We Need A Few Of Your Details
To see if your current savings are enough to buy in your selected suburb and to send you a complimentary FHBA Australian Property Monitors (APM) comprehensive postcode report for your selected suburb
Deposit Guide
- 5%
Deposit Amount:
Lenders Mortgage Insurance:
(Indicative Only)Stamp Duty:
(Indicative Only)Mortgage Reg. Fee:
Transfer Fee:
Other Costs: $ 3,000
Total Deposit + Costs Required:
Your Current Savings:
First Home Owner Grant:
Total Funds Available:
Surplus / (Deficit):
The following amount will be capitalised onto the loan
Lenders Mortgage Insurance:
(Indicative Only) - 10%
Deposit Amount:
Lenders Mortgage Insurance:
(Indicative Only)Stamp Duty:
(Indicative Only)Mortgage Reg. Fee:
Transfer Fee:
Other Costs: $ 3,000
Total Deposit + Costs Required:
Your Current Savings:
First Home Owner Grant:
Total Funds Available:
Surplus / (Deficit):
The following amount will be capitalised onto the loan
Lenders Mortgage Insurance:
(Indicative Only) - 20%
Deposit Amount:
Lenders Mortgage Insurance:
(Indicative Only) NilStamp Duty:
(Indicative Only)Mortgage Reg. Fee:
Transfer Fee:
Other Costs: $ 3,000
Total Deposit + Costs Required:
Your Current Savings:
First Home Owner Grant:
Total Funds Available:
Surplus / (Deficit):
The following amount will be capitalised onto the loan
Lenders Mortgage Insurance:
(Indicative Only) Nil
5%
10%
20%
Deposit Amount
Lenders Mortgage Insurance
(Indicative Only)
NIL
Stamp Duty
(Indicative Only)
Mortgage Reg. Fee
Transfer Fee
Other Costs
$ 3,000
$ 3,000
$ 3,000
Total Deposit + Costs Required
Your Current Savings
First Home Owner Grant
Total Funds Available
Surplus / (Deficit)
The following amount will be capitalised onto the loan
Lenders Mortgage Insurance
(Indicative Only)
NIL
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At FHBA we are passionate about helping aspiring first home buyers purchasing their first home.
We can help you with your first home search, home loan needs, grant applications and/or any questions you may have.
Complete the form below for an obligation free Discovery Session with an FHBA Coach!
Disclaimer: The information above is general in nature and should not be solely relied on. The source of this information was the SRO TAS website. This factual information was true at the time of writing (last updated 29 June 2018). FHBA recommends you speak with a licensed professional about your circumstances so you can find out if you are eligible for any government assistance. FHBA does not recommend that you buy a new property simply so you can receive government assistance. For more information on using our website please read our full Terms & Conditions policy.
