First Home Owners Grant (FHOG)

You may be entitled to a $7,000 grant if you are purchasing or going to build your first home and intend to live in the property. There is a cap on the value of the property you are purchasing.

The property you are purchasing can be a house, unit, townhouse etc but is not available for renovations to an existing building or for vacant land.

To be eligible at least one applicant must be an Australian Citizen or a Permanent Resident. Applicants must not have owned property anywhere in Australia previously.

This is a joint scheme between the State and Commonwealth Governments.

The grant is generally administered by your Lender and is paid over at settlement as part of the funds available from the Lender.

To obtain a brochure or further information contact www.firsthome.gov.au
or telephone 1300 363 211

A Further Grant – The REBA Grant Home Buyers Assistance Fund

The Home Buyers Assistance Fund has been established to provide first home buyers with financial support.

There is a grant available of $2,000. The purchase price of the property must not exceed $400,000.

Set out below is an outline of the criteria needed to be eligible:
A Buyer should:

  • Be buying their first home and intend to reside there for at least the first 12 months;
  • Not have owned any property in Western Australia previously;
  • Be buying the property through a real estate agent;
  • Lodge the application for the Grant within 90 days after signing the contract to purchase;
  • Be financing the property through an authorised lending institution;

For more information: www.commerce.wa.gov.au/ConsumerProtection

Reduced Stamp Duty Available to First Home Owners

There is also stamp duty relief for First Home Buyers.

For First Home Buyers - subject to approval by the Office of State Revenue:

  • When buying a house that you will live in:
  • Up to $500,000 the stamp duty payable is nil;
  • And reduced stamp duty available after that, phasing out at $600,000.

When buying vacant land once you build a house that you will live in:

  • Up to $300,000 the stamp duty payable is nil.
  • And reduced stamp duty available after that, phasing out at $400,000. *

* Conditions Apply

For further information: http://www.treasury.wa.gov.au/cms/index.asp?id=12659