With the recent changes to the First Home Owners Grant, I have put together a summary below of "Frequently Asked Questions".
What are the new rules surrounding the Commonwealth’s First Home Owners Grant?
First Home Buyers Grant doubled to $14,000 for an existing home purchased between now and June 30 2009
First Home Buyers Grant tripled to $21,000 for newly built homes purchased between now and
June 30 2009
Who gets the First Home Buyers Grant?
Those who buy an existing home between now and June 30, 2009, will get a $14,000 payment.
Those who sign the contract to build a new home before June 30, 2009 will get a $21,000 payment.
Will you get the money if you exchanged contracts to buy a new home before 14 October?
No, only contracts signed on October 14, 2008 and up until June 30 2009 are eligible.
Will you get the $21,000 first home buyer grant if your new house is not completed before June 30 2009?
Yes. You just need to sign a contract to have the house built before June 30 2009.
Source Robyn Roberts L.B.R. Member 20/10/2008
Comments