First Home Owners Grant - Who's eligible?

We get this question all the time, so here is a summary from Queensland's Office of State Revenue (OSR) website:

Eligibility for the Grant
To be eligible for the Grant, you and any joint applicants must satisfy all the eligibility criteria.
In addition, any person who has a relevant interest in the land on which the home is situated must be an applicant and must also satisfy the eligibility criteria:
You must have an eligible transaction in relation to the purchase or construction of your first home and
You must reside in the home to which your application relates as your principal place of residence for a continuous period of at least six months. The period of occupation must start within one year after the eligible transaction is completed.

What is considered a 'home'
Clarifying what is 'a home' when applying for the Grant

Not all types of buildings are classified as homes.

A home is a building fixed to land, that:
- may lawfully be used as a place of residenceand
- is a suitable building for use as a place of residence

Meaning of 'home'?
Converting non-residential premises to a home?

Characteristics of a person that may be eligible for the Grant
- You must be a natural person, not a company or person acting in the capacity of trustee
- You, or a joint applicant, must be an Australian citizen or a permanent resident
- You must be at least 18 years of age when you entered into the eligible transaction (The Commissioner may consider an exemption from this requirement in certain circumstances)
- You and your spouse must not have received an earlier grant under the First Home Owner Grant Act 2000 or under a corresponding Act of an Australian State or Territory
- You and your spouse must not have previously held an interest in residential property in Australia prior to 1 July 2000. This includes investment homes
- You and your spouse must not have previously held an interest in residential property in Australia on or after 1 July 2000 in which you or your spouse have resided (Ownership of an investment property after 1 July 2000 will not prevent you from obtaining the Grant provided you have NOT lived in the home)

Requirements to live in the property
- You must reside in the home, for which the Grant is claimed, as your principal place of residence within one year after the eligible transaction for that home is completed
- If you entered into an eligible transaction on or after 1 January 2004, you must have moved into the home as your principal place of residence within one year of the completion of the eligible transaction; and you must remain in continuous occupation in that home for a period of at least six months
- If you entered into an eligible transaction before 1 January 2004, you must have moved into the home as your principal place of residence within one year of the completion of the eligible transaction. There is no minimum period for which you are required to reside in the home

For further information on principle place of residence, refer to Practice Direction FHOG 10.2.

The Commissioner may extend the time in which you must move in to the home, or approve a period of occupation less than six months, where there are good reasons for doing so.

Home purchase process can affect the Grant
- The legal arrangements you make or the way you finance your home purchase can have implications for whether you qualify for the Grant, the information you need to provide, or when the Grant can be paid.You should check below to clarify your circumstances prior to applying.
Oral contracts
Instalment arrangements
Rental purchase agreements

If you have any questions, give your Morpheus Property Agent a call on 1300 727 586.

Yours in property!