First Home Owners can receive a one-off grant of $7,000 from the State Government.
Do you qualify? How do you apply? What else do you need to know?
Read on to find out more...
Qualifying for the First Home Owner Grant
Applying for the Grant
Receiving the Grant
What else do I need to know?
Note 1: If you purchased a residential property for investment purposes after 1st July 2000, you may still qualify for the First Home Owner Grant provided you have not lived in that investment property for more than six months.
Note 2: If your partner has previously purchased a property, you may not qualify for FHOG - contact the Department of Treasury and Finance for more information.
Your First Home
Most applications are lodged via an Approved FHOG Agent (usually the bank from which you obtain your mortgage).
Alternatively, you can apply by personally lodging your application form at your nearest Service Tasmania shop.
To apply for the $7,000 First Home Owner Grant, simply complete the standard First Home Owner Grant application form.
This form is available here.
Q: When will the First Home Owner Grant scheme end?
A: There is no specified date for the end of the FHOG scheme.
Q: What can I spend my First Home Owner Grant on?
A: The FHOG may be spent on anything – there are no restrictions as to how you use the money once it has been received. However, most applicants use their FHOG to form part of their deposit, to pay upfront bank fees or for mortgage insurance.
Q: Can I receive the First Home Owner Grant in respect of purchasing vacant land?
A: No, the FHOG applies only to purchases of residential property – that is, a residential home that is affixed to land; eg. a house, duplex, apartment, unit, etc.
Q: If I purchase my First Home in the name of a company or trust, am I still able to receive the First Home Owner Grant?
A: No, companies and trusts do not qualify for the FHOG. Only natural persons can apply.
Q: Is the First Home Owner Grant means-tested?
A: At present, anyone can receive the FHOG provided they satisfy the criteria outlined previously. However, there is a chance that a price cap will be implemented in the future - this has already occurred in some other States.
Q: Neither my partner nor I have ever owned a house before and have just decided to purchase our First Home together... Are we each entitled to receive the grant, or are we required to share them between us?
A: Unfortunately only one First Home Owner Grant is payable in respect of the same eligible transaction. As such, the maximum amount you could jointly receive is $7,000.
Q: My partner and I have just bought our First Home together. Before this, we had been living together for 21 months and are not yet married. Are we regarded as spouses/de facto for the purpose of these grants?
A: That depends on the exact circumstances of your living arrangements. A spouse / partner is someone you are legally married to or in a significant relationship with. A significant relationship is regarded as being a relationship that is similar to that of a married couple and is not limited to couples of the opposite gender.
Q: I have just purchased an established home that is currently tenanted. Am I able to keep the tenants in my house and still claim the First Home Owner Grant?
A: Yes, you can continue leasing the house to your tenants for the time being and claim the FHOG provided you move into the house within 12 months of purchasing it and the house remains your principal place of residence for at least 6 months thereafter.
(Source: Tasmanian Department of Treasury and Finance)