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information to consider

Information worth knowing for potential Australian Permanent Residents, regardless of which State they are considering, is the First Home Owner Grant (FHOG).  If you are entering Australia on a permanent residency visa you could be eligible for such assistance.


 

 

It is obviously difficult to consider engaging in the major undertaking of a property purchase immediately upon arrival and not something we would recommend unless you are extremely familiar with the area you are considering. However the FHOG can potentially help if you are eligible.


On the 14th October 2008, the Australian Government announced that it was introducing the First Home Owners Boost. This, together with the current $7,000 First Home Owners Grant, will provide first home buyers with up to $21,000 on houses purchased before the 30th June 2009. The boost is a Rudd Government initiative to try to further stimulate the housing market and give first home buyers every assistance in getting on the property ladder.

The FHOG general eligibility criteria is listed below:

 

- the applicant must be an Australian citizen or permanent resident;

 

- the applicant or their spouse must not have received an earlier grant;

 

- the applicant or their spouse must not have had a prior interest in residential property;

 

- and the applicant must occupy the home to which the application relates as the applicants principal place of residence for a continuous period of at least 6 months (or a shorter period approved by the Commissioner) commencing within 12 months of completion of the eligible transaction (or within a longer period approved by the Commissioner).

 

 

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