- First Home Owner Grant (the Grant),
- First Home Bonus (the Bonus),
- First Home Owner Boost (the Boost).
- A regional bonus
First Home Owner Grant
The
First Home Owner
Grant provides eligible first home buyers
with a $7000 grant. This grant is not means-tested nor
is it restricted by the price of the property.
The Grant is an on-going scheme.
First Home Bonus
1 July 2009 to 30 June 2010 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $2,000 (for established homes) or $11,000 (for new homes only), known as the First Home Bonus (the Bonus).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.
1 January 2007 to 30 June 2009 (contract date)
If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $3,000 (for established homes) or $5,000 (for new homes only), known as the First Home Bonus (the Bonus).
To be eligible to receive the Bonus, the purchase price of the property must not exceed $500,000.
Regional Bonus
1 July 2009 to 30 June 2010 (contract Date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $4500 regional bonus is also available (in addition to the $11,000 bonus).
6 May 2008 to 30 June 2009 (contract date)
For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $3000 regional bonus is also available (in addition to the $5000 bonus).
First Home Owner Boost
The First Home Owner Boost, which was launched by the Australian Government, supplements the Victorian Government funded First Home Owner Grant of $7000. The Boost provides:
14 October 2008 to 30 September 2009 (contract date)
- an extra $7000 to first home buyers who purchase an established home; and
- an extra $14,000 to first home buyers who build a new home or purchase a newly constructed home.
1 October 2009 to 31 December 2009 (contract date)
- an extra $3500 to first home buyers who purchase an established home; and
- an extra $7000 to first home buyers who build a new home or purchase a newly constructed home.
The tables below set out the different amounts that first home buyers in Victoria may be eligible for:
The information in this table is to be used as a guide only.
Contract Date (1 January 2010 - 30 June 2010) |
||||||
|---|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total | |
| Established homes only | $7,000 | $0.00 | $2,000* | $0.00 | $9,000 | |
| Newly constructed homes in Metropolitan Victoria only | $7,000 | $0.00 | $11,000* | $0.00 | $18,000 | |
| Newly constructed homes in Regional Victoria only | $7,000 | $0.00 | $11,000* | $4,500* | $22,500 | |
| *For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000. | ||||||
Contract Date (1 October 2009 - 31 December 2009) |
||||||
|---|---|---|---|---|---|---|
| Conditions | First Home Owner Grant (FHOG) | New First Home Owner Boost | First Home Bonus | First Home Owner Regional Bonus | Total | |
| Established homes only | $7,000 | $3,500 | $2,000* | $0.00 | $12,500 | |
| Newly constructed homes in Metropolitan Victoria only | $7,000 | $7,000 | $11,000* | $0.00 | $25,000 | |
| Newly constructed homes in Regional Victoria only | $7,000 | $7,000 | $11,000* | $4,500* | $29,500 | |
| *For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000. | ||||||