The First Home Owner Grant (FHOG) was first introduced in July 2000. It was designed to offset the impact on home ownership when the GST (Goods and Services Tax) was introduced. The First Home Owner Grant is a national scheme, however it is regulated and funded individually by each of the individual states and territories.
In South Australia, the First Home Owner Grant of $15,000 is available for anyone purchasing or constructing a new residential property. This could be a house, townhouse, unit, flat, or apartment as long as it meets local planning standards. URB4N Apartment purchasers are eligible for the First Home Owner Grant if they meet all other eligibility criteria.
At least one of the grant applicants must be an Australian citizen or have permanent residency in Australia. New Zealand citizens who are permanent residents of Australia and hold a Special Category Visa may also apply.
The applicant (and their spouse or domestic partner) also must not have previously owned a residential property anywhere in Australia prior to 1 July 2000. They also must not have owned a residential property anywhere in Australia on or after 1 July 2000 and occupied that property continuously for six months or more.
It is important to note that all applicants must occupy the purchased or built home as their principal place of residence for a continuous period of at least six months, starting within 12 months after completion of the eligible transaction.
An application must be approved by RevenueSA for payment of the grant. A financial institution authorised by RevenueSA to process FHOG applications may also approve the application.
If you are applying directly for finance with a lender or using a mortgage broker, they will be able to help you through the application process.
If you don’t require finance for your purchase, or if you would like to know more about the First Home Owner Grant before approaching a lender, you are welcome to contact Constantine Pappas on 0423 047 020 or at email@example.com with any questions you may have.