The grant currently stands at $7,000.00.
The First Home Buyers Boost (introduced 2008) is also $7,000.00. This is available until 30th June 2009 and will double the grant to $14,000.
First home buyers who build a new home or purchase a newly constructed home will receive an extra $7,000.00 to take their grant to S21,000.
You are eligible for the Australian Government’s First Home Owner Grant and Boost if you:
- Are an Australian citizen or permanent resident
- Are buying or building your first home in Australia
- Have the intention of occupying the property as your principal place of residence within 12 months of the settlement.
If you’re eligible you can receive the grant regardless of your income, the area in which you are planning to buy or build, or the value of your first home. The grant is not means tested and no tax is payable on it.