Secure Your First Home in Tasmania with the First Home Owner Grant

The Tasmania First Home Owner Grant (FHOG) offers eligible first-time buyers $10,000 towards purchasing or building a new home. This grant applies to transactions from 1 July 2024 onwards, providing substantial support for those ready to achieve their homeownership dreams in Tasmania.

Who’s Eligible for the First Home Owner Grant?

To qualify for the Tasmania FHOG, you need to meet specific requirements:

• Applicant Requirements: All applicants listed on the title must be individuals (not companies or trusts), aged 18 or older, and either an Australian citizen or permanent resident. You must occupy the new home as your primary residence for a continuous period of at least six months within 12 months of the purchase or construction completion.
• Property Ownership: If you or your spouse have owned a residential property in Australia before 1 July 2000, or owned and lived in one for over six months after that date, you’re ineligible for this grant. Likewise, previous FHOG recipients cannot apply again.

What Counts as a New Home?

The Tasmania FHOG is strictly for “new homes,” defined as dwellings that haven’t previously been occupied or sold as a residence. This includes kit homes and movable buildings (fixed to land). Construction of new properties must meet additional timelines if you entered into contracts between 1 July 2016 and 30 June 2024, with building completion required within 24 months of the contract date or foundation laying.

Important Residency Requirements

Once you receive the FHOG, it’s essential to meet the residency requirement—living in your new home for at least six months within the first 12 months. Failure to comply may result in repayment of the grant. In exceptional circumstances, like a forced job transfer or health issue, you can apply for an exemption from this requirement, provided you have ongoing ties to the home.

Get Expert Guidance Today

Navigating the Tasmania FHOG process can be complex, and requirements vary based on individual circumstances. For tailored advice, contact a UNO Broker who can guide you based on your unique situation, ensuring you make the most of the available grant.

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Source:State Revenue Office of Tasmania