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Individuals do have to meet certain criteria and requirements, in order to qualify for First Home Owner Grants. These grants are funded by the Australian Central Territories Revenue Offices, however, they are implemented by each state individually. This can mean, more grants being available in some circumstances, and non applicable in others. Exact details can be found on each relevant state’s website, including forms needed to make an application. When applying for First Home Owner Grants, it’s essential to supply ALL the necessary documentation, as incomplete applications can not, and will not, be processed. First Home Owner Grants were introduced on July 1st 2000, as a way to offset the new Service & Goods Tax, also made effective, by the Australian government, on that day. If you, your spouse, or partner, have received a grant before, in any state of Australia, you will not be eligible for another.

First Home Owner Grants are available to individuals aged eighteen and over, and excludes trustees or companies. The state commissioner can exercise his discretion and exempt certain individuals from the minimum age requirement. In all circumstances, at least one applicant, must be a citizen, or permanent resident of Australia. Or, with regards to joint applications, one of the applicants must be a citizen or permanent resident. In most states, citizens of New Zealand, with a special category visa, relative to section 32 of the nineteen fifty eight ‘Migration Act, are eligible. Plus, any resident with a permanent visa, under section 30(1) of the same act. In all cases, First Home Owner Grants can only be used to purchase a permanent residence. One which the applicants must live in for a continual period of at least 6 months, and within twelve months of receiving the Grant. Or, with regards to newly constructed homes, within twelve months of it’s completion.

The price of the property, and income is not applicable. However, eligibility, for First Home Owner Grants, is relevant to the property or land you purchase. Whether that might be a new or resale property already signed for, or any property or land previously purchased, eligibility varies depending on state. Most states will, almost certainly, include houses, apartments and units, plus land to be used for the construction of a new property. To be considered for First Home Owner Grants, any property or land must be used as a lawful and legal, permanent, residence.. Considered to be suitable for use as such, by the state commissioner. In some states, this will include land purchased for placing a permanent, static, mobile home. Making an application through an approved agent, usually with banks and similar financial institutions, will be the quickest way to apply and receive First Home Owner Grants. Although you can download forms and apply directly to the State Revenues Office. An agent will ensure the correct documentation is enclosed and that you are also eligible. How quickly you will receive the grant depends on how complete your application is and whether you’re buying, or building your First Home.

 

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First Home Grants website provides useful information about first home owners grant , first home loan options and many other helpful tips and guides. http://www.firsthomegrants.com.au

Article Source: ArticlesBase.com – First Home Owner Grants – Are You & Your Home Eligible?

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