The changes to the First Home Owner Grant (FHOG) announced in this state budget are intended to commence from Sunday 15 September 2013. The grant for established homes will drop from $7,000 to $3,000. The grant for new constructions will lift from $7,000 to $10,000. First home buyers will continue to be exempt from transfer duty on new and established home purchases up to $500,000 (phasing out at $600,000) and on vacant land purchases up to $300,000 (phasing out at $400,000). The best recommendation to first home buyers of established homes trying to be eligible for the existing $7,000 grant is to be working towards having a contract for the sale of land signed by all parties prior to midnight on Saturday, 14 September 2013.
Posted on: Thu, 05 Sep 2013 01:47:09 +0000
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