First Home Owner Grant reduced for established houses

[Andrew from Vista Financial]

This is not something that should come as a surprise as it was announced recently that it would happen however the dates that this becomes effective from is today.

 

Therefore as of today the First Home Owner Grant (FHOG) for established houses has been reduced from $7,000 to $5,000, http://www.revenuesa.sa.gov.au/fhog/index.html.

 

The other increased/new grants announced recently have not changed and information can be found here http://www.pomsinadelaide.com/forum/money-finance/32547-mortgages-grants-buying-property-update.html

 

 

 

 

Kind regards

 

 

Andy

[Guest Barney Rubble]

At what point does this apply (sorry have not looked at the links) junior has just brought his first house, settlement is 4th January, initially penned in the 7k but was told last week it is now 5k.

[Andrew from Vista Financial]

Here you go Barney

 

Established Homes

[TABLE=width: 606]

[TR]

[TD=width: 461][/TD]

[TD=width: 134]Up to

[/TD]

[/TR]

[TR]

[TD]First Home Owner Grant (22 November 2012 to 30 June 2014#)

[/TD]

[TD]$5000

[/TD]

[/TR]

[TR]

[TD]First Home Owner Grant (1 July 2000 to 21 November 2012#)

[/TD]

[TD]$7000

[/TD]

[/TR]

[/TABLE]

 

 

 

Therefore contracts entered into between 1 July 2000 until 21 November 2012 have $7,000 on offer if eligible.

 

 

Andy

[Guest Barney Rubble]

Thanks Andy, he went back to the broker and raised the topic and was told that they would be entitled to the $7k and were amending the contract to suit . . . .

 

$2k saving, now just need to work out our commission