First Home Owner Grant (FHOG) and Stamp Duty

FHOG
In Western Australia, the government has made a grant available to first home owners of $7,000 to put towards the cost of their first house.

As a permanent resident visa holder you too will be eligible for this grant when you buy your first home in Australia.

Even better news is that if you buy (or build) your house before 31st December 2009 you will also be eligible for the First Home Owners Grant Boost, which is in addition to the WA Government funded $7,000 First Home Owner Grant.

If your contract is made before 30th September 2009, this is:

• an additional $7,000 if you are buying an established house or;
  
• an additional $14,000 if you are buliding or buying a new house.

Or if your contract is made after 30th September 2009 and before 31st December 2009, this is:

• an additional $3,500 if you are buying an established house or;
  
• an additional $7,000 if you are buliding or buying a new house.

You can find out more about this at the Government of Western Australia, Department of Treasury and Finance

Stamp Duty
In addition to this grant if you are a first home owner you may also be eligible for no or reduced stamp duty on your property purchase. Currently, if the property is bought for under $500,000 there will be no stamp duty to pay. Further details are available here.

In addition to these incentives you may also be eligible for the

Home Buyers Assistance Account
The Home Buyers Assistance Account is established under the Real Estate and Business Agents Act 1978 to provide first home buyers with financial support.

The scheme provides a grant of up to $2,000 for the incidental expenses of first home buyers when they purchase an established or partially built home through a licensed real estate agent for a purchase price of $400,000 or less.

Again for more details of this and your eligibility see here.

All in all as a first home buyer in Western Australia you get a pretty good deal.

If you have any specific real estate questions please feel free to contact John (john@ozhouserental.com) as he is a real estate agent in Rockingham and can help you out.