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Overview
First home buyers who qualify for the First Home Owner Grant (the grant) may also be eligible for an additional payment known as the First Home Bonus (the bonus). To be eligible to receive the bonus, the value of the property must not exceed $500,000 (for contracts entered into up to 30 June 2009). For contracts entered into between 1 July 2009 and 30 June 2012, the value of the property must not exceed $600,000.
How much is the First Home Bonus?
| Contract date | First Home Bonus Amount | Conditions |
|---|---|---|
| From 1 July 2010 to 30 June 2012 | $13,000 | New homes only |
| From 1 July 2009 to 30 June 2010 | $11,000 | New homes only |
| $2000 | Established homes only | |
| From 1 January 2007 to 30 June 2009 | $5000 | New homes only |
| $3000 | Established homes only | |
| From 1 January 2006 to 31 December 2006 | $3000 | Established homes or new homes |
| From 1 May 2004 to 31 December 2005 | $5000 | Established Homes or New Homes |
Regional Bonus
1 July 2010 to 30 June 2012 (contract date)
Where the purchase or construction of a new home is in a regional municipality in Victoria, an additional bonus of $6,500 is also available in addition to the $13,000 bonus. These payments are subject to certain requirements.
1 July 2009 to 30 June 2010 (contract date)
Where the purchase or construction of a new home is in a regional municipality in Victoria, an additional bonus of $4500 is also available in addition to the $11,000 bonus. These payments are subject to certain requirements.
6 May 2008 to 30 June 2009 (contract date)
Where the purchase or construction of a new home is in a regional municipality in Victoria, an additional bonus of $3000 is also available in addition to the $5000 bonus. These payments are subject to certain requirements.
A new home is a home:
- built under a home building contract;
- built by an owner builder;
- purchased off the plan, or
- sold for the first time as a residential premises.
Applicants for the bonus must meet the same eligibility criteria as those for the grant.
How do I claim the First Home Bonus?
We will automatically consider your eligibility for the bonus when you make an application for the grant.
If you are eligible for the bonus it will be paid at the same time as the grant.
How does the availability of other duties exemptions and concessions impact on your eligibility to receive the bonus?
Depending on your particular circumstances, first home buyers may also qualify for various duty exemptions and concessions.
For a summary of how these duty exemptions and concessions may impact on your eligibility to receive the bonus, refer to our Duty exemptions and concessions section within the First Home Bonus section.
Further information
First Home Owner Grant General Information
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