The First Home Owner Grant is a one-off payment for eligible first home buyers/builders in Tasmania.
From and including 1 January 2016, the FHOG payment is set at $20,000 for eligible purchasers of new homes (e.g. a spec home), homes off the plan and owner/builder homes.
The payment has reverted to $10,000, for transactions entered into after 1 July 2017.
Legislation will be introduced to underpin the new measure. Before that legislation comes into effect, the higher level of grant will be implemented by administrative arrangements.
The FHOG payment for eligible applicants has increased from $10,000 to $20,000 for the following eligible transactions occurring during the above times:
building your home through a registered builder
building your home as an owner builder
purchasing a home off the plan
purchasing a new home
The $20,000 payment will be administered by way of a Deed of Arrangement until the relevant legislation comes into effect. From 1 July 2017 onwards the grant amount has reverted to $10,000.
To be eligible for the FHOG all applicants must:
be a natural person (not a company)
be at least 18 years of age
be an Australian citizen or permanent resident
not have owned a home (or have a spouse who owned a home) in Australia before 1 July 2000
not have owned and occupied (or have a spouse who owned and occupied), for more than six months, a home in Australia after 1 July 2000;
Occupy the home as your principal place of residence for a continuous period of at least six months commencing within 12 months of the date the occupancy certificate is issued for the property; if building your home or having a home built.
Occupy the home as your principal place of residence for a continuous period of at least six months commencing within 12 months of settlement; and not have received the FHOG before; if purchasing your new home.