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May 07 2010

First Home Owners Grant Victoria

First Home Owners Grant

The First Home Owners Grant provides eligible first home buyers with a $7,000 grant.  This is a National scheme, administered by the Victorian State Government.

  • Contracts signed up to 31st December 2009
    • No Means test
    • No Property Value Restriction
  • Contracts signed on or after 1st January 2010
    • No Means test
    • Not available for properties over $750,000

First Home Owners Bonus

The First Home Owners Bonus is a State grant, and may have conditions that are different to the Federal Grant.

  • Contracts signed between 1st July 2010 and 30th June 2011
    • Must be eligible for the First Home Owner Grant
    • Not available for properties over $600,000
    • An additional payment of $13,000 for new homes, or
    • An additional payment of $16,500 for new homes in a specified regional municipality in Victoria.
  • Contracts signed between 1st July 2009 and 30th June 2010
    • Must be eligible for the First Home Owner Grant
    • An additional payment of $11,000 for new homes, or
    • An additional payment of $15,500 for new homes in a specified regional municipality in Victoria.

Source: www.sro.vic.gov.au

First Home Owners Boost

  • The First Home Owner Boost ended on 31st December 2009.
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2 comments

  1. kenneth ball

    I havea sub class visa 175 to allow permanent relocation to Australia. Am I allowed under this visa to buy any proprty in Australia? or does it have to be new builds only?

    1. ABCDiamond

      A 175 Visa gives you almost the same rights as an Australian Citizen, therefore you can buy any property you like. No restrictions, and you get eligibility for most of the various grants available.

      I have just read a few other forums etc, and found that a few people have been confused on this point in the past, so, to give you the definitive answer, this is from the FIRB:

      Real Estate
      You do not need to submit an application for approval to acquire real estate in Australia if:
      you hold a permanent resident visa and you are purchasing residential property;
      http://www.firb.gov.au/content/Exemptions/exemptions.asp

      and to clarify the 175 Visa:

      Skilled – Independent (Migrant) Visa (Subclass 175)
      This visa allows you and any secondary applicants included in your visa application to live as permanent residents in Australia.
      http://www.immi.gov.au/skilled/general-skilled-migration/175/

      Hope this gives you the reassurance you need.

      http://www.britzinoz.com/buying-a-house-in-australia

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