As part of the 2017-18 State Budget the Tasmanian Government has extended the $20 000 First Home Owner Grant for one year, from 1 July 2017 to 30 June 2018.
The First Home Owner Grant is a one-off payment for eligible applicants who buy or build a new home, where the transaction meets certain eligibility criteria.
The extension will mean that the increased $20 000 payment will be available for eligible transactions entered in to up until and including 30 June 2018.
For eligible transactions entered from 1 July 2018 onwards (or for eligible transactions that do not meet the requirements for the increased grant), the grant amount is $10 000.
The existing eligibility requirements for receiving the First Home Owner Grant will apply to applicants for the extended grant.
Eligible transactions are as follows:
- a comprehensive home building contract for a new home;
- the building of a new home by an owner builder (which includes the relocation of a new moveable building); or
- a contract for the purchase of a new home (for example, a spec. home or an off-the plan purchase of a new home).
Where the eligible transaction relates to the construction of a new home, the eligible transaction must be completed (i.e. the home must be built) within 24 months of entry into the eligible transaction (e.g. within 24 months of entering into the contract or, in the case of an owner builder, within 24 months of commencing the laying of foundations for the home).
The usual FHOG application process applies for transactions entered into between 1 July 2017 and 30 June 2018 (inclusive).
For more information please read the First Home Owner Grant - Guideline.
First Home Owner Grant and Builder Boost Statistics
For the First Home Owner Grant and Builder Boost statistics, please read the fact sheet.
The First Home Owner Grant in other Australian states and territories
Should you wish to purchase a property in another Australian state or territory, the application and payment process may vary. View here the First Home Owner Grant information for other states or territories.
Duty and Land Tax may apply to some home owners in Tasmania. For information, please use the following links: