Queensland First Home Owners Grant

From 1 July 2016 the Great Start Grant will be known as the Queensland First Home Owners’ Grant. The First Home Owners’ Grant is a one-off payment for eligible first home buyers/builders in Queensland. From 1 July 2018, the Queensland FHOG has reverted to $15,000. To be eligible for the grant:

• you must move into the new home as your principal place of residence within 1 year of the completed transaction and live there continuously for 6 months
• you must be an Australian citizen or permanent resident (or applying with someone who is)
• you or your spouse must not have previously owned or held an interest in property in Australia
• you must be at least 18 years of age
• you must be buying or building a brand new home or an established home that has undergone substantial renovations, valued under $750,000 (including land)
• each applicant must be an individual and not a company or trust
• you have not received a first home owners’ grant in any State or Territory

More Information:

HomeBuilder Scheme

Eligible Australians can now receive grants of $15,000 to build their new home, or substantially renovate their existing property under the Federal Government’s new HomeBuilder scheme.

The stimulus was created to help first home buyers enter the property market, assist those who have been looking to enter the property market, and help the residential construction industry bounce back following the COVID-19 pandemic.

HomeBuilder can be used in conjunction with existing State and Territory First Home Owner Grant programs, stamp duty concessions and other grant schemes.

• Be an individual (not a company or trust)
• Be aged over 18 years or over
• Be an Australian citizen
• Build a new home (it does not have to be your first home) as an owner-occupier or substantially renovate your existing home
• Meet the two income caps – an individual earning under $125,000 per annum or a couple earning under $200,000 combined annually
• Substantially renovate your existing principal place of residence under the condition it that it is valued under $1.5 million prior to renovating

• You must enter a building contract between January 1, 2021 and March 31, 2021
• Construction must commence within six months of the contract date
• Building work must be completed by a licenced building contractor, the contractor cannot be a relative of the property owner
• Renovations can be a combination of works including kitchen, bathroom etc.
• Renovations must improve the accessibility, safety and liveability of the home
• Renovations do not include swimming pools, tennis courts, outdoor spas and saunas, detached sheds or garages
• Owner-builders and people seeking to build a new home or renovate an existing home as an investment property are ineligible