If you’re a first home buyer in Australia, you’ve probably heard about the First Home Owner Grant (FHOG). You may have heard about it but not understand what it is or whether you’re eligible for it. In this guide, you will find out what the FHOG is, the eligibility criteria, the amount you get and any other concessions or grants you may want to consider.
The First Home Owner Grant is a one-off lump sum payment made to first-time property buyers that meet particular eligibility requirements. The scheme was introduced in 2000 to help offset the impact the GST might have on homeownership, especially for buyers making their first moves into the property market.
Although it’s a federally funded scheme, it’s managed and administered by each Australian state and territory independently. As such, each state and territory decide on the eligibility criteria, the amount of the grant given out and how you can use it.
Despite being administered by the individual states and territories that are some essential eligibility criteria that apply across Australia. This includes:
As well as the FHOG each state and territory has other government grants or concessions they offer first home buyers.
You’ll receive a grant of $10,000 to go towards the purchase or construction of your new home.
The FHOG covers the purchase of a new or substantially renovated property or the construction of a new property. If you’re purchasing the property can be no more than $600,00 and if you’re building it can’t be more than $750,000.
The First Home Buyer Assistance Scheme (FHBAS) offers a discount or even complete exemption for first home buyers on transfer duty, formerly stamp duty. This is available on new or existing properties so you can be eligible for both the FHOG and FHBAS.
The NSW Government made changes to the threshold for purchases of new homes and land eligible for the FHBAS from 1st July 2023, check out all the thresholds and concessions available here. A full exemption from transfer duty is available if you are buying a new or existing home valued up to $800,000, whereas homes valued above $800,000 and under $1,000,000 can qualify for a concessional rate.
If you are purchasing vacant land to build a home, you may receive a transfer duty exemption for land valued up to $350,000. A concessional rate is applicable for land valued over $350,000 but less than $450,000.
Another scheme to consider is the FHSS (First Home Super Saver Scheme) which allows for personal voluntary contributions into your superfund to help you save for you first home, with concessional super contributions being taxed only at 15%.
To find out more about the grants and concessions available in NSW, visit the Department of Revenue’s website.
There is a grant of $10,000 available when buying or building a new home in Victoria. Regional Victoria first home buyers can receive $20,000 if the contract was entered into after 30th June 2021.
You must be purchasing a new or substantially renovated property or constructing a brand new property to be eligible for the First Home Owners Grant in Victoria. Your property value cannot exceed $750,000.
For first home buyers in Victoria, they can access these additional duty exemptions or concessions on new or established properties:
See all the exemptions, concessions and requirements for any first home buyers grant in Victoria on the State Revenue Office website.
The QLD First Home Owner Grant gives $15,000 to first home buyers who qualify for contracts signed prior to 20th November 2023. Contracts signed after 20th November 2023 and up until 30th June 2025 could be eligible for a $30,000 grant.
The FHOG can be used towards buying or building a property valued no more than $750,000. This includes substantially renovated or other homes that have not been previously lived in or sold as a residential residence.
There are multiple duty concessions available to first home buyers in QLD. You can typically only be eligible for one of these three concessions:
For more details on all the grants and concessions available as a first home buyer in QLD, visit the government’s website.
The First Home Owners Grant in SA offers $15,000 to first home buyers who meet the eligibility criteria.
The SA 2024-25 State Budget removed the property value cap for stamp duty relief for eligible first home buyers for contracts to purchase a new home or vacant land entered into on or after 6th June 2024.
There are currently no other grants or concessions available to first home buyers in SA.
You can check the most up to date details of any grants or concessions available to first home buyers in SA on the Revenue SA website.
The First Home Owners Grant in WA is $10,000 for buyers who qualify.
The FHOG is eligible to be used for the purchase or building of a new home. The property value threshold depends on the location of your property.
First home buyers in WA may be entitled to the first home owner rate of duty (FHOR), which offers a concession on the full rate of transfer duty paid. Below is a breakdown of how FHOR is applied.
Home and land transactions entered into on or after 9th May 2024:
Vacant land transactions:
Find out more about the grants and concessions available to first home buyers in WA on the WA Department of Finance website.
The Tasmanian First Home Owners Grant offers $10,000 for eligible buyers who qualify from 1st July 2024.
For all applicants for FHOG, the application must relate to a new home. This means, a home that has not previously been used or sold as a principal residence.
You may be eligible for a 100% concession for transfer duty for first home buyers who settle on a new property with a dutiable value of $750,000 or less.
To find out more about the Tasmanian FHOG or first home owner duty concession visit the State Revenue Office of Tasmania website.
Following 1st October 2024, the First Home Owners Grant in NT is $50,000 for all eligible first home buyers.
To qualify for the FHOG, you need to be purchasing or building a new property that hasn’t previously been lived in or sold as a residential property.
Find out more about the grants, concessions and assistance offered to NT first home buyers on the state government's website.
The ACT government changed how they managed the FHOG and now have the Home Buyer Concession Scheme, which offers duty concessions to eligible buyers. These are currently available for first home property buyers and for the construction of new properties.
To not pay any duty on your new home purchase:
If you have a partner, even if they won’t be an owner of the property, their income must be included.
The Home Buyer Concession Assistance Scheme waives your need to pay duty on the purchase price of your property. See how much receiving this concession can save you by working out the duty payable with our calculator.
All property purchases made in the ACT are eligible for the Home Buyer Concession Assistance Scheme. This means you can purchase a brand new home, land to build on or an established property and qualify for the concession.
There are no other grants or concessions available specifically for first home buyers in the ACT.
Read more on the ACT revenue website.
To apply for the First Home Owners Grant, you can fill out the application form available on your local state or territory website. However, most first home buyers opt to apply for the FHOG through their lender as it can be done at the same time as applying for a home loan.
Speak to a Yard expert to see how they can help you access the FHOG in your state or territory when you apply for a home loan today.
Payment of the FHOG depends on how you applied. If you’ve applied with your lender, you’ll likely receive the FHOG upon settlement or first drawdown of funds from your loan. On the other hand, if you’ve applied directly through your state or territory revenue department, it may require more documentation for you to receive payment of the FHOG.
Each state or territory may have additional conditions that trigger payment of the grant if you’re building or have purchased off-the-plan.
Yes in most cases your lender will allow you to use the FHOG as part of your deposit for your home loan. However, it’s unlikely that any of the grant amounts will cover the full deposit so you probably shouldn’t rely on the grant as you deposit.
You may be able to access the First Home Loan Deposit Scheme to also assist with your deposit.
If you’re a first home buyer looking to apply for the First Home Owners Grant speak to a Yard expert today to see how they can help.
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