First Home Owners Grant | First Home Buyers Grant
If you’re in the process of purchasing your first home, you may be eligible for financial assistance under one or more national or state-sponsored schemes for first home buyers.
The First Home Owner Grant (FHOG) is one such national scheme that offers eligible first home buyers a one-off payment to help reduce their upfront costs. First Home Owner Grants are offered by almost every state and territory, but the size of the grant and the eligibility criteria may differ between states. Some states and territories also offer stamp duty concessions to first home buyers to make their purchase more affordable.
The size of the grant depends on the state in which you are buying and the property’s value. You may visit the First Home website to check your eligibility for the grant in your state. If your application for the grant is approved, the funds would most likely be paid directly to your lender at the time of settlement. Still, some lenders may count this amount towards your deposit, making it easier for you to qualify for a home loan. You could speak to a mortgage broker to learn more about the First Home Owner Grant in your state and how you can use it.
Who is eligible for the First Home Owner Grant?
Your eligibility for the First Home Owner Grant will depend on where you’re buying a house in Australia. However, some of the eligibility criteria are common across all states and territories.
To be eligible for FHOG, you must be:
- A first time home buyer
- A permanent resident or citizen of Australia
- 18 years or older
An individual, and not a company or trust.
Additionally, you must plan to move into the house within 12 months of settlement and stay there as your principal place of residence for at least six months to one year, depending on the rules in your state.
It’s also important that you shouldn’t have already received the Grant anywhere in Australia. If you’re applying with a partner, neither of you should have owned a home or previously received the Grant.
A state-wise guide to the First Home Owner Grant
Even though the FHOG is a national scheme, it is individually funded and administered by each state and territory. Therefore, each state has its own criteria, guidelines and amounts set for the grant. Some states also offer a stamp duty concession on top of the FHOG to help bring down the overall cost of your first home.
Here’s a summary of the First Home Buyers Grant in every state:
Stamp Duty Exemption/Concession
Exemption up to $34,370 for eligible buyers.
$10,000 grant for eligible buyers purchasing or building a new home valued up to $600,000 or constructing a house with a total value of less than $750,000.
Exemption for new and established homes worth up to $650,000.
Concession for new and established homes valued between $650,000-$800,000.
$10,000 grant for eligible buyers purchasing or building a new home.
$15,000 grant for eligible buyers purchasing or building a new home valued up to $750,000.
Concessions may be available for eligible buyers purchasing a house valued less than $550,000.
$15,000 grant for eligible buyers purchasing or building a new home valued up to $575,000.
$30,000 grant for eligible buyers purchasing or building a new home between 1 April 2021 and 30 June 2023
50 per cent stamp duty concession for eligible buyers purchasing an established home worth $600,000 or under, between 1 January 2022 and 30 June 2023 (inclusive).
$10,000 grant for eligible buyers purchasing or building a new home valued up to $750,000.
Exemption for new and established homes worth up to $600,000.
Concession for new and established homes valued between $600,000-$750,000.
$10,000 grant for eligible buyers purchasing or building a new home. The grant amount reduces to the consideration paid for the house if it’s less than $10,000.
Stamp duty is exempted on properties valued up to $430,000.
Disclaimer:The information in this article was verified on 20 Jan 2022. Please visit the First Home website to check the latest information on the grant in your area.
First Home Owner Grant Australian Capital Territory
The First Home Owner Grant in the ACT is no longer available as of 1 July 2019. Instead, the state has exempted first home buyers from paying stamp duty up to a limit of $34,370 (for the year 2022-23) under the Home Buyer Concession Scheme. This is lesser than the stamp duty exemption cap of $35,910 under the scheme for 2021-22.
Not all first home buyers purchasing a house in the ACT are eligible for the stamp duty concession, as there are additional criteria to qualify. For instance, your household’s total gross income must not exceed the income threshold of $160,000. If you have dependant children, a higher income threshold will apply to you. Visit the ACT Revenue Office website for the latest figures that apply to your situation.
Besides the income threshold test, it’s also necessary for at least one of the buyers to live in the home continuously for at least a year to qualify for the exemption. This period can start anytime within 12 months of settlement.
First Home Owner Grant New South Wales
A $10,000 grant is available for first home buyers in NSW purchasing a new home worth $600,000 or under. For first home buyers constructing a house, the total value of the property (house and land) must not exceed $750,000 in order to remain eligible for the $10,000 grant.
Additionally, the First Home Buyer Assistance Scheme allows stamp duty exemptions for first home buyers in NSW purchasing:
- A new or established home valued up to $650,000.
- A vacant block of residential land valued up to $350,000.
Stamp duty concessions are also available under the scheme for new and established homes valued between $650,000 - $800,000 or a vacant block of land valued between $350,000 - $450,000.
Visit the Revenue NSW website for the latest information and updates.
First Home Owner Grant Northern Territory
If you buy or build a new home in the Northern Territory, you can apply for a First Home Owner Grant of $10,000. Low and middle income earners may also benefit from the HomeBuild Access scheme that makes it possible to purchase or build a house with as low as a 2.5 per cent deposit.
Until 30 June 2021, first home buyers in NT were eligible for stamp duty concessions under the THOD program, but the scheme is no longer available.
You may visit the Northern Territory Government information and services website for more information.
First Home Owner Grant Queensland
First home buyers in Queensland can take advantage of a $15,000 First Home Owner Grant for buying or building a new home valued under $750,000.
Additionally, stamp duty concessions in QLD are available to first home buyers under the first home concession scheme for homes valued at less than $550,000. If the property’s value is over $550,000, you may want to check your eligibility under the home concession scheme to save some money on the applicable transfer duty.
Owner builders purchasing vacant land to build their first home can apply for the first home vacant land concession. However, the value of the vacant land should be under $400,000 in order to be eligible for the concession under the scheme.
Visit the Queensland Government website for the latest information and updates.
First Home Owner Grant South Australia
First home buyers in SA may apply for a First Home Owner Grant of up to $15,000 to purchase or construct a new residential home valued at less than $575,000. However, when applying with a partner, each applicant must reside in the home as their principal place of residence for a continuous period of at least six months commencing within a year of settlement.
No first home buyer stamp duty concessions are presently available in SA.
Visit the RevenueSA website for the latest information and updates.
First Home Owner Grant Tasmania
A $30,000 First Home Owner Grant in TAS is available for first home buyers purchasing or building a new home in Tasmania between 1 April 2021 and 30 June 2023.
If you are buying an established home, you may not be eligible for the FHOG, but you could benefit from a stamp duty concession. The state offers a 50 per cent stamp duty concession to first home buyers purchasing an established home worth $600,000 or under, between 1 January 2022 and 30 June 2023 (inclusive).
Visit the website of the State Revenue Office of Tasmania for the latest information and updates.
First Home Owner Grant Victoria
First home buyers can also apply for a stamp duty exemption or concession, irrespective of whether they buy a new or established home. Stamp duty exemption is available on homes with a dutiable value of $600,000 or under. If you’re buying a house with a dutiable value under $750,000 but more than 600,001, you may be eligible for a stamp duty concession. You can view the concessional rates of duty on the State Revenue Office website.
For those purchasing an established dwelling as their first home, a principal place of residence (PPR) duty exemption may be available for homes valued at $550,000 or less. It could be possible to apply for PPR concession in combination with the first home buyer duty reduction. You may want to consider speaking to a mortgage broker to understand the maximum possible concession you can receive on your stamp duty payment when buying a house in Victoria.
Additionally, various other stamp duty exemptions and concessions are available to first home buyers in Victoria, such as:
- Off-the-plan concession:
A duty concession for an off-the-plan property, either as a land and building package or a refurbished lot.
- Pensioner concession:
A one-off duty exemption or concession available to pensioners buying a new or established home valued up to $750,000.
- First-home owner with family exemption/concession:
A one-off duty exemption or concession for properties valued at $200,000 or less. Only first home buyers with dependent children under 18 may apply for this discount.
- Young farmer’s exemption/concession:
A one-off duty exemption or concession for young farmers under 35 buying their first farmland property. However, it’s not possible to apply for both farmer’s exemption or concession and the PPR concession.
Visit the State Revenue Office of Victoria’s website for the latest information and updates.
First Home Owner Grant Western Australia
Eligible first home buyers in WA may receive a grant of $10,000 or the consideration paid to buy or build a new house (if less than $10,000) in WA. However, the property must be bought or built to be used as your place of residence to be eligible for the grant.
First home buyers purchasing an established house may not qualify for the FHOG, but they might be eligible for stamp duty exemptions or concessions. The First Home Owner Rate (FHOR) allows stamp duty exemptions on both existing and new homes with a dutiable value up to $430,000. A concessional rate of duty is applied to homes valued between $430,001 - $530,000.
Visit the FHOG page on the Western Australian government website for more information.
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Product database updated 04 Mar, 2024