Overview

If you are a first home owner you may be entitled to receive one or more of the following:

  • First Home Owner Grant (the Grant),
  • First Home Bonus (the Bonus),
  • First Home Owner Boost (the Boost).
  • A regional bonus

First Home Owner Grant

The First Home Owner Grant provides eligible first home buyers with a $7000 grant. This grant is not means-tested nor is it restricted by the price of the property.
The Grant is an on-going scheme.

First Home Bonus

1 July 2009 to 30 June 2010 (contract date)

If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $2,000 (for established homes) or $11,000 (for new homes only), known as the First Home Bonus (the Bonus).

To be eligible to receive the Bonus, the purchase price of the property must not exceed $600,000.

1 January 2007 to 30 June 2009 (contract date)

If you are eligible to receive the Grant, you may also be entitled to receive an additional payment of $3,000 (for established homes) or $5,000 (for new homes only), known as the First Home Bonus (the Bonus).

To be eligible to receive the Bonus, the purchase price of the property must not exceed $500,000.

Regional Bonus

1 July 2009 to 30 June 2010 (contract Date)

For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $4500 regional bonus is also available (in addition to the $11,000 bonus).

6 May 2008 to 30 June 2009 (contract date)

For contracts entered into for the purchase or construction of a new home in a regional municipality in Victoria, an additional $3000 regional bonus is also available (in addition to the $5000 bonus).

First Home Owner Boost

The First Home Owner Boost, which was launched by the Australian Government, supplements the Victorian Government funded First Home Owner Grant of $7000. The Boost provides:

14 October 2008 to 30 September 2009 (contract date)

  • an extra $7000 to first home buyers who purchase an established home; and
  • an extra $14,000 to first home buyers who build a new home or purchase a newly constructed home.

1 October 2009 to 31 December 2009 (contract date)

  • an extra $3500 to first home buyers who purchase an established home; and
  • an extra $7000 to first home buyers who build a new home or purchase a newly constructed home.

The tables below set out the different amounts that first home buyers in Victoria may be eligible for:

The information in this table is to be used as a guide only.

Contract Date (1 January 2010 - 30 June 2010)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $0.00 $2,000* $0.00 $9,000
Newly constructed homes in Metropolitan Victoria only $7,000 $0.00 $11,000* $0.00 $18,000
Newly constructed homes in Regional Victoria only $7,000 $0.00 $11,000* $4,500* $22,500

*For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000.

Contract Date (1 October 2009 - 31 December 2009)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $3,500 $2,000* $0.00 $12,500
Newly constructed homes in Metropolitan Victoria only $7,000 $7,000 $11,000* $0.00 $25,000
Newly constructed homes in Regional Victoria only $7,000 $7,000 $11,000* $4,500* $29,500

*For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000.

Contract Date (1 July 2009 - 30 September 2009)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $7,000 $2,000* $0.00 $16,000
Newly constructed homes in Metropolitan Victoria only $7,000 $14,000 $11,000* $0.00 $32,000
Newly constructed homes in Regional Victoria only $7,000 $14,000 $11,000* $4,500* $36,500

*For contracts entered into between 1 July 2009 to 30 June 2010, the value of the property must not exceed $600,000.

Contract Date (14 October 2008 - 30 June 2009)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $7,000 $3,000# $0.00 $17,000
Newly constructed homes in Metropolitan Victoria only $7,000 $14,000 $5,000# $0.00 $26,000
Newly constructed homes in Regional Victoria only $7,000 $14,000 $5,000# $3,000# $29,000

#For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000

Contract Date (6 May 2008 - 13 October 2008)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $0.00 $3,000# $0.00 $10,000
New homes in Metropolitan Victoria only $7,000 $0.00 $5,000# $0.00 $12,000
New homes in Regional Victoria only $7,000 $0.00 $5,000# $3,000# $15,000

#For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000

Contract Date (1 January 2007 - 5 May 2008)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established homes only $7,000 $0.00 $3,000# $0.00 $10,000
New homes only $7,000 $0.00 $5,000# $0.00 $12,000

#For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000

Contract Date (1 January 2006 - 31 December 2006)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established and New Homes $7,000 $0.00 $3,000# $0.00 $10,000

#For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000

Contract Date (1 May 2004 - 31 December 2005)
Conditions First Home Owner Grant (FHOG) New First Home Owner Boost First Home Bonus First Home Owner Regional Bonus Total
Established and New Homes $7,000 $0.00 $5,000# $0.00 $12,000

#For contracts entered into up to 30 June 2009, the value of the property must not exceed $500,000

 

This document was last reviewed on 1/07/2009
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