Up to $21,000 First Home Owner Grant

Tue, 2008-10-14 19:02

The Australian Government has announced that some first home buyers may receive up to $21,000 in first home owner grants.
The scheme is called First Home Owner Boost, which supplements the NSW Government funded First Home Owner Grant Scheme.
According to the announcement from the Commonwealth:

  • first home buyers who purchase established homes will receive a boost of $7,000 that will double the grant to $14,000
  • first home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000.

The NSW First Home Plus Scheme provides generous exemptions or concessions on transfer duty for eligible first home buyers. This includes vacant land on which you intend to build your first home.
First home buyers will be eligible for the First Home Owners Boost from the 14 October, 2008.

All contracts entered into by 30 June, 2009 will be eligible for this new additional assistance.