South Australian FHOG for established houses runs out on 30 June

South Australian FHOG for established houses runs out on 30 June
South Australian FHOG for established houses runs out on 30 June

Only 28 days remain for first home buyers in South Australia hoping to receive government assistance to buy an established home.

South Australian first time buyers are currently eligible for a first home owners grant (FHOG) on both new homes and established homes.

For those purchasing established homes, current $5,000 is attainable. However, from the start of July the grant for established properties will end.

For those buying a new home, a grant of $15,000 is achievable for properties not exceeding $575,000 in value.

If you previously held any interest in residential property before 1 July 2000, even if it was an investment property, you're not eligible.

Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.

After the property is built, you must then live in the property for six months commencing within 12 months of completion.

off-the-plan properties may also be eligible for a stamp duty concession for a new apartment or substantially refurbisged apartment. This is for properties from 31 May 2012 to 30 June 2014, capped at the stamp duty payable on a $500,000 apartment (or $21,330). A partial concession will apply from 1 July 2014 to 30 June 2016.

The concession does, however, apply to specific areas as outlined on the Revenue SA site and associated maps.

You can check out the national guide to first home buyer grants to see a more detailed rundown of what's available across Australia for first home buyers.

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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First Home Buyers

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