The first home owner grant (FHOG) is a one-off grant payable to first home owners that satisfy all the eligibility criteria.
The 2015-16 State Budget included a measure to abolish the FHOG of up to $3,000 for the purchase of established homes.
This change will apply to contracts for the purchase of an established home entered into on or after 3 October 2015. First home owners who entered into a contract to purchase an existing home before that date will still be able to apply for and receive the FHOG and related first home owner rate of duty for a period of 12 months after completion of the eligible contract.
On or after 3 October 2015, purchasers of established homes will still be able to apply for the first home owner rate of duty if the value of the home is below the current threshold of $530,000.
The FHOG of up to $10,000 for ‘new’ homes will remain unchanged.