If you’re a first home owner buying a new home, you may also be eligible to claim the Queensland First Home Owners’ Grant.
You’re allowed to claim both the grant and a transfer duty concession, but each has its own eligibility requirements and some cancel out others. For example, the grant allows you to rent out a room while using it as your residence, but this would disqualify you for both the first home concessions.
To help people buy their first home, the Federal and State Governments provide you with a one-off payment.
From 1 July 2016 the Great Start Grant will be known as the Queensland First Home Owners’ Grant.
How do I qualify?
1. You must be an Australian citizen or a permanent resident.*
2. You must be at least 18 years old.
3. Your house must be your principal place of residence for a continuous period of 6 months within the first year of owning it.
4. You must be buying or building your own home.
5. The house must be in the same state or territory in which the application is made.
6. You have never owned a property or received the grant before. This includes your spouse or de facto if you are co-owners.
Get into your first home sooner
The Queensland First Home Owners’ Grant is a state government initiative to help first homeowners to get their new first home sooner. Depending on the date of your contract, you’ll get $15,000 towards buying or building your new house, unit or townhouse (valued at less than $750,000). You can even buy off the plan or choose to build yourself. It’s a great opportunity to buy or build a new home in our great state.
How a Queensland First Home Owners’ Grant can help you
- If you’re thinking of buying or building a new home, this could
be what gets you started.
- It could get you something more than you were expecting.
- It can get you into your first home sooner.
Note: The $15,000 Queensland First Home Owners’ Grant is not available to contracts that replace previous contracts entered into before 1 July 2016.
To be eligible for the grant:
- You must be an Australian citizen or permanent resident (or applying with someone who is).
- You or your spouse must not have previously owned property in Australia.
- You must be at least 18 years of age.
- You must be buying or building a brand new home, valued under $750,000.