surfdude

It is true that new migrants can claim this ?? How much and is it deducted from your morgage ?

WBB

you can get a $7K grant if it is your first home in australia, there are some conditions but i'm not exactly sure what they are, i think you have to live in the house for a year or two or pay it back.

HiddenPaw

FHOG - first home owners grant. It's available to all first time buyers, not just migrants. $7k.

bondipom

Its great they give you a small amount towards the stamp duty of about $25,000 for the Sydney median house.

HiddenPaw

LOL - so true
What is stamp duty rate [on houses] in NSW? Vic is a whopping 7%

CHnJ

I don't think the poster was making a joke, you used to get a discount/exemption on Stamp Duty for your first purchase in NSW as well as the first home buyer discount. I don't know how much it is or whether it's still available.

tiredwithtwins

try this;
www.firsthome.gov.au/


sue

Kiwipaul

Here's a link to a Stamp Duty calc for all of Australia

ABCDiamond

Using the above link, here are examples of Stamp Duty and mortgage and transfer fees in buying a residential home for $300,000 with a $150,000 mortgage

VIC $ 15,111
S.A $ 12,794
N.T $ 12,330
W.A $ 10,705
TAS $ 10,281
NSW $ 9,651
ACT $ 9,246
QLD $ 5,001

QLD looks nicer all the time
You even get to keep some of the $7,000 grant for yourself

Ev'n'John

We've just bought a house in QLD and our understanding is that the QLD government has a reduced stamp duty for first time buyers (as well as the $7k first time buyers bonus).

I think the stamp duty on a $300k house in QLD would usually be about $9k, so I think you may be quoting the first time buyers rate? Any subsequent house moves after the first purchase would attract the full monty! But still nice to have - thanks!

Evelyn.

ABCDiamond

The QLD figure, if you buy as an "investment" property is $ 10,006.

That particular web site doesnt mention any difference between First home buyers and other Home buyers, however the National Bank one does.

First home buyer $ 5,033
Non 1st home buyers $ $ 5,153
Investment buyers $ 10,158

The First Home Owner Rebate -
Full Stamp Duty exemption for properties valued up to $80.000 Stamp Duty concessions on a reducing scale for properties between $80.000 and $160.000 in metropolitan areas -
Property must be first home and intended as principal residence.

Unfortunately not many properties less than $160,000 in the Brisbane area now