The First Home Owner Grant
The First Home Owners Grant is a national scheme funded by the states and territories and administered under their own legislation. The grant is a one off tax free payment to first home buyers in Australia, who satisfy the eligibility criteria. To be eligible, you must be at least 18, you or other applicants may not be a company or trust, at least one of the applicants must be a permanent Australian resident, and you must occupy the residence for 6 months beginning in the first 12 months of settlement.
Confused? You're not alone. The following information is designed to help you understand the grant, but your iChoice broker is always available to discuss it in more detail.