Effective Saturday 1 July 2017 changes have been made to the First Home Owners Grant (FHOG) in some states as follows.
|New South Wales||The $10,000 FHOG cap for a New Home Purchase/Off the Plan purchase has decreased from $750,000 to $600,000. For a property where the FHO enters into a contract to build, or an owner builder, the total value cannot exceed $750,000.|
There is no change to the $10,000 FHOG cap for Contract to Build/Owner Builder.
|NSW Office of State Revenue|
|Regional Victoria||An increased FHOG payment of $20,000 is available for eligible first-home buyers who buy or build their new home valued up to $750,000 in regional Victoria.|
Eligible first-home buyers in metropolitan Melbourne will continue to receive the $10,000 FHOG.
|VIC State Revenue Office|
|Queensland||FHOG expiry date extended from Friday 30 June 2017 to Sunday 31 December 2017.||Queensland Government|
|Tasmania||FHOG expiry date extended from Friday 30 June 2017 to Saturday 30 June 2018.||Tasmanian Government State Revenue Office|
Alluna Finance offers you private banking experience for all your lending needs. We use our market knowledge and a large lender panel to find solutions tailored to your individual needs.
Call Todd McKeon on 0414 678831 for further information about how these changes might affect you.
Your first property purchase can be a daunting time for many people. We help guide you through the process and can help you avoid many of the pitfalls of property investing.