How does the first home buyers grant work?

The FHOG is a government scheme introduced in 2000 designed to offset the effect of Goods and Services Tax on homeownership for first time home buyers. While it is a national scheme, it is funded by the states and territories, and administered under their own individual legislations and rules. Under the scheme, this one-off grant is payable for eligible first home buyers who wish to buy or build a residential property to live in. The eligibility criteria is not based on financial considerations.

Please Note: The eligibility criteria for First Home Owner Grants vary between states. Check with your lender when you apply for a home loan to determine if you fully qualify.