First Home Owners Scheme - First Home Owners Grant (FHOG) – refers to the original $7,000 grant
- First Home Bonus Grant – refers to the SA Government $4,000 Bonus Grant*
- First Home Owners Boost – refers to the NEW increase of $7,000 for Established Homes, or $14,000 for New Homes
So, what this means for you… - Extra $14,000 for buying or building a new home, which brings the benefit to $21,000; with potential to reach $25,000
- For contracts entered into between 14th October 2008 and 30th June 2009
FAQ
What is a new home?
A new home is a home that has not been previously sold or occupied as a place of residence, including occupation by the builder, tenant or other occupant.
How do I apply for the First Home Owners Boost Scheme?
To apply for the $14,000 First Home Owners Boost Scheme benefit for building a new home or purchasing a newly constructed home, buyers need to complete the First Home Owner Grant application form. In conjunction with filling in the First Home Owners Grant, buyers will also need to complete the Addendum to the First Home Owner Grant Application to claim the $14,000 First Home Owners Boost for New Homes (all of which can be found on the RevenueSA website or provided by your financial institution).
If my contract is dated before 14th October 2008, do I qualify for the First Home Owners Boost Scheme?
No. To be eligible, contracts must have been entered into (signed and dated) between 14th October 2008 and 30 June 2009 (inclusive).
Can I rescind my contract and enter into a new contract dated on or after 14th October 2008 to purchase or build the same home?
The scheme will not apply to a contract which replaces a rescinded contract made before 14th October 2008 to purchase or to build the same or substantially similar home. *There is no limit on the price of the home. However, the $4,000 boost is reduced after the value of the home is greater than $400,000 and the First Home Owners Boost Scheme is not means tested.
For additional information please visit www.revenuesa.sa.gov.au or www.revenuesa.sa.gov.au/fhog/faqboost.html
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