The dream of owning a home is made more attainable for first-time buyers in Tasmania through the state’s version of the First Home Owner Grant (FHOG) — what does it provide and how can potential first-home buyers apply for the grant?
What is the Tasmanian First Home Owner Grant?
The Tasmanian First Home Owner Grant provides a one-time payment to first-time buyers purchasing or building a new home in the state.
Administered by the Tasmanian State Revenue Office (SRO), the grant provides a $30,000 grant for transactions entered between 1 April 2021 and 30 June 2024.
A previous version of the grant provided $20,000 in funding.
What are the eligibility rules for the grant?
To qualify for the Tasmanian First Home Owner Grant, applicants must comply with the following application requirements and building rules:
Applicant requirements
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Applicants must be individuals and not a company.
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They must be 18 years old or over.
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Only Australian citizens and permanent residents can apply for the grant.
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If successful, the applicants must occupy the property as a place of residence continuously for at least six months commencing within 12 months of the approval of the grant.
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Applicants must be a first-time buyer — this means that they must not have owned a residential property in Australia before 1 July 2000, have owned and occupied a residential property for more than six months in Australia after 1 July 2000, or have received the grant before.
Building rules
For the applicants to access the grant, their property transactions must meet the following requirements set by the Tasmanian SRO:
|
Transaction Type |
Start date of Eligibility |
Required timeframe of completion |
Evidence of completion |
Application Date |
|
Contract with builder |
Date of the signed contract |
Within 24 months
|
Certificate of occupancy from local council |
After the start date and no more than 12 months after the completion of the transaction |
|
Owner builder |
Date that the laying of foundations began |
Certificate of occupancy from local council |
||
|
Off-the-plan |
Date when the buyer entered into a contract to buy land and have a new home constructed |
Registered title of the land |
||
|
Moveable building |
Date of the purchase of the building |
Certificate of occupancy from local council |
||
|
New Home |
Data of the signed contract |
Registered title of the land |
Providing evidence of completion is only required when lodging the application directly with the Tasmanian SRO.
How to apply for the First Home Owner Grant in Tasmania?
First-home buyers can submit their application for the grant by applying for financing from approved agents. Lenders considered approved agents of the grant will submit the application directly to the Tasmanian SRO.
Applicants applying for finance with a non-approved agent can make their submissions directly to the Tasmanian SRO through the FHOG portal.
When applying directly to the Tasmanian SRO, applications must be submitted in these timeframes:
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For new home purchases, applications must be submitted within 12 months after settlement.
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For owner-builder, applications can be submitted within 12 months after the issuance of a certificate of occupancy or completion.
Documentary requirements
The following documents must be provided when applying through the Tasmanian SRO. In some cases, approved agents may also request the documents below:
|
Supporting Documents |
Examples |
|
Evidence of Contract |
|
|
Proof of completion of settlement or constriction |
|
|
Proof of identity |
Applicants must provide unique documents from each of the following categories:
|
|
Evidence of Name Change |
This must only be provided when the name on any of the documents is different from the applicant’s current name. Any of these can be used:
|
When will the grant be paid?
For direct applications, the payment will be paid after the completion of the eligible transaction.
When applying through an approved agent, the payment will be made depending on the property transaction.
For contract-to-build, the payment will be provided following the completion of the laying of the foundations.
Owner-builder transactions will have the grant paid for when an occupancy certificate is issued.
For new home and off-the-plan purchases, the payment will be made at settlement.
Frequently asked questions about the Tasmanian First Home Owner Grant:
Can I apply for the grant if I am not a first-time homebuyer?
No, the Tasmanian First Home Owner Grant is specifically designed for first-time homebuyers. If you have previously owned or co-owned a property anywhere in Australia, you may not be eligible for the grant. The grant is intended to assist individuals or couples in purchasing or building their first home.
What is the maximum property value limit to be eligible for the grant?
There are currently no price caps indicated in the Tasmanian SRO guidelines for the First Home Owner Grant.
It is important to refer to the latest guidelines provided by the Tasmanian SRO as rules are subject to change and can depend on factors such as the location of the property and the specific date of the contract or construction commencement.
Are there any additional government incentives available for first-home buyers in Tasmania?
In addition to the First Home Owner Grant, there are other government incentives and concessions available for first-home buyers in Tasmania. These include stamp duty concessions or exemptions on property purchases, such as the First Home Owner Duty Concession and the Home Guarantee scheme.
Can the grant be used for renovations or additions to an existing property?
No, the Tasmanian First Home Owner Grant is not applicable for renovations or additions to an existing property. The grant is specifically intended for the purchase or construction of a new home.
Also read: Taking advantage of Tasmania's First Home Owner Grant
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