NSW first home buyers and the first home owners grant QLD are national schemes offered by individual states and territories to help reduce the cost of buying your own home.
NSW first home buyers
Back in 2000, the Australian government introduced a nationally recognised scheme designed to help Australians get a leg up in the property market. This scheme was arranged to be delivered by individual states and territories and has changed quite a lot since its inception in 2000.
It also varies between governments so the first home owners grant NSW and the first home owners grant QLD will not offer the same exemptions, bonuses or incentives. As property markets differ, so too do grants offered to help purchase property.
NSW first home buyers are currently offered a nominal sum toward the cost of acquiring a newly built home in NSW. In previous times, the first home owners grant NSW applied to the purchase of both newly built and established homes, however as the grant and the property market have shifted, so too have the eligibility criteria and the amount the grant is actually worth.
When you apply for your grant, you will need to ensure that you are:
- Over 18 years old
- Purchasing a new home only
- Be an Australian citizen or permanent resident who has lived in Australia for at least 6 months
- Purchasing a new home that you intend to live in for at least 6 months
- Aware that you will only be eligible to receive this grant once throughout your lifetime
If you believe that you eligible for a grant toward the purchase of your first home then start with the website of your state or territory government to find out what’s involved and how to apply.
ACT www.revenue.act.gov.au
Northern Territory www.treasury.nt.gov.au
Queensland www.thefirsthomeowners.initiatives.qld.gov.au
South Australia www.revenuesa.sa.gov.au
Tasmania www.sro.tas.gov.au
Victoria www.sro.vic.gov.au
Western Australia www.finance.wa.gov.au