iPom

Something I only just found out which is probably old news but thought I'd post it here.
Reading an article that my mother sent me from the Torygraph in the UK...

I'd never heard of this and hope it's true. It seems almost too good. Anyone got the downside?

angec

Well, we're an Anglo-Australian couple and we got the 7000 first home buyer grant having never owned a house over here. We were also exempt from stamp duty, I think that was because we were first time buyers here too.(although i don't know if there are thresholds here like the UK that we might have fallen under).

moneypenny20

We got the grant but it also applies to anyone who is buying in Aus for the first time. Don't know if we were exempt from stamp duty - will have to check that

hawk2005

Does it say in which states - we got the 1st time buyer grant but paid the Vic govt stamp duty in full

ljj

In VIC you get (First Home Bonus) $3000 but only if your property is less than $500k.

LJJ

iPom

Typical british article... doesn't say anything about states whatsoever.

Bert'n'Stella

Theres lots of threads on this on expats. It was a government iniative from about hmmm, 8 years ago? Not sure exactly. Each of the states decide the exact amount/conditions as far as i know. At one point it was doubled to $14k and then it all changed. It applies to buying a home for the first time or buying land and building a home on it for the first time - but in the second case you MUST live in the house for x period and not just build and then sell it on.

Stella (who is quite lonely cause Bert has flown the coop up to Katoomba for a conference for 3 days!!! So am sitting here on me own drinking some nice white wine,,,,,,)

iPom

Thank you Stella - I'll do a search on past posts. If Bert's in Katoomba, let me recommend he goes to Mountain Harvest cafe for some excellent food ... and let me reassure you I was in town this morning and it was cold, foggy and miserable.

The Norwegian

Hi

Have a looksie

http://www.anewlifeinaustralia.com/money-matters.html

Erik the Viking

iPom

Cheers Erik

Bert'n'Stella

Yer, Bert'll be lucky to leave Lilianfels! Conference is so poorly organised that he wont have time to do much. We have friends in Katoomba and he doubts he'll get time to see them, even if they go to him!

Don't tempt me with the Katoomba cafes - I miss it so much. Nothing like it, at least here in Mackay. Another friend has just opened a new cafe in Katoomba but I dont know the name yet!

Stella

iPom

Really? Let me know the name and we'll go support them.

At least he's at Lilianfels though... It could be worse.

Vash the Stampede

I received the $7,000 grant when I bought my first house.

The rule was that you had to be an owner-occupier, and had to live in your new property for at least a year before selling.

The original grant was $7,000 for a "second-hand" house and $14,000 for a new build.

The scheme was introduced in 2001 to offset the introduction of the GST, and is still going strong - though the owner-builder grant has since dropped to $14,000.

The grant was paid by the federal government, with no repayment necesary (unless you sold your house within the first year of ownership.)