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.

Related posts:

1. First Home Owners Grant Queensland
2. First Home Owners Grant New South Wales
3. Home Repossessions
4. LAFHA - Living Away From Home Allowance
5. Unemployment in Australia