Overview Of The First Home Owners Grant Scheme In Australia
For many Australian residents seeking to either build or own their first home, the relief that comes with the financial help from the Australian Federal Government is always a positive gesture.
The First Home Owners Grant scheme in Australia or FHOG as is commonly known was introduced in July 2000 with the aim of helping to cancel out the effects of the Goods and Services Tax or GST. However it’s been continued as an incentive to the first home builder and buyer.
As a national scheme that is Government funded, the First Home Owners Grant scheme is administered according to the legislation in different states, although the total grant is the same throughout the country. So a reciprient of this grant is entitled to an amount of money of up to $7000 and this is normally a once in a lifetime payment that is given to those who meet all the eligibility requirements.