Andrew from Vista Financial

SA FHOG Bonus likely to be extended

    Recommended Posts

    The SA First Home Owners Bonus Grant currently $8,000 for new builds/homes which is paid in addition to the $7,000 First Home Owners Grant (http://www.revenuesa.sa.gov.au/fhog/bonus8000.html) was due to reduce July 1 to $4,000.

     

    It is likely that this Thursdays State budget will announce it will remain at $8,000 http://www.adelaidenow.com.au/first-home-bonus-grant-is-back/story-e6frea6u-1226368031870

     

    Regards

     

    Andy

    Share this post


    Link to post
    Share on other sites

    Just to clarify, this means that any first time buyer in Adelaide - even migrants like myself - would qualify for £15k in total as a deposit towards our first house, regardless of current wealth?

    Share this post


    Link to post
    Share on other sites

    Hi

     

    First Home buyers in South Australia (this includes UK expats that have previously purchased in the UK) that meet eligibility can receive a grant of $7,000 (this is regardless of income or other assets held) for properties up to the value of $575,000. http://www.revenuesa.sa.gov.au/fhog/index.html

     

    The First Home Owner Bonus grant which is what is being referred to above is for peolpe eligible for the First Home Owners Grant who are buying a brand new home or building a home and is an additional $8,000 for houses up to $400,000.

     

    This then phases out for property between $400,000 - $450,000, meaning for property valued at over $450,000 $0 is available. http://www.revenuesa.sa.gov.au/fhog/bonus8000.html

     

    Again the First Home Owner Bonus Grant is not means tested accoring to income or other assets held.

     

    The $8,000 was due to be halved at the end of June 30 2012 but as stated is likely to remain at $8,000 after todays state budget.

     

    Regards

     

    Andy

    Share this post


    Link to post
    Share on other sites

    Hi

     

    Think this only applies to Permanent Residents though. (I'm sure Andy can correct me if I'm wrong.)

     

    Regards

     

    Wendy

    Share this post


    Link to post
    Share on other sites
    Guest Crushfamily

    Can I assume that if you build the $400000 limit is calculate as house+land?

     

    Thanks

    Share this post


    Link to post
    Share on other sites
    Hi

     

    Think this only applies to Permanent Residents though. (I'm sure Andy can correct me if I'm wrong.)

     

    Regards

     

    Wendy

     

     

    Yes, that's correct Wendy.

     

    Part of the criteria for FHOG is perm residence (it can be retrospective for up to 12 months though if temp at the time but perm is gained within this time).

     

    Andy

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now