Western Australia’s First House Proprietor Grant (FHOG) goals to get first house consumers into the market sooner, offering a monetary enhance to eligible candidates.
For those who’re exploring the state on your future house, you would possibly wish to take a look at whether or not you’ll be able to benefit from the grant to attain your private home possession objectives.
What’s the Western Australian First House Proprietor Grant?
The FHOG offers a one-off cost to first house consumers to help them in shopping for or constructing a brand new residential property.
The scheme was launched by the federal authorities in 2000 to offset the impact of the GST on house possession. Whereas the FHOG is a nationwide scheme, every state and territory is liable for funding and administering this system.
States and territories additionally pay out differing sums of cash and have totally different eligibility standards.
See additionally: How do First House Proprietor Grants work?
In Western Australia, first house consumers can apply for a one-time $10,000 cost that they will put in direction of shopping for or constructing a brand new house within the state. It’s not accessible to these buying a longtime house.
Who’s eligible for the WA First House Proprietor Grant?
First up, the grant shouldn’t be means-tested in Western Australia, so individuals in any respect earnings ranges can apply.
To be eligible:
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You should be 18 years or over on the time of creating the applying. For those who’re underneath 18, you could possibly submit an utility offered that you simply additionally apply for an exemption from the age requirement
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A minimum of one applicant (if you happen to’re making use of with a partner or de facto associate) should be an Australian citizen or a everlasting resident on the time of creating an utility
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You have to maintain a related curiosity (possession) in any land on which the house is located and should personal the house in your personal capability
Whenever you qualify for the grant, you have to to occupy the property as your principal place of residence for a steady interval of at the least six months commencing inside a yr after both the acquisition settlement or the completion of the development of your private home.
When are you not entitled to the WA First House Proprietor Grant?
You are not eligible for the grant if you happen to or your partner or de facto associate have:
For those who’ve beforehand owned property, you could be eligible for the grant. Although, you would need to match via a spot within the following restrictions:
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Cannot have owned residential property in Australia earlier than 1 July 2000
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Cannot have owned residential property in Australia on or after 1 July 2000 and occupied that property as a spot of residence earlier than 1 July 2004
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Cannot have owned residential property anyplace in Australia on or after 1 July 2000 and occupied that property as a spot of residence for a steady interval of at the least six months that started on or after 1 July 2004
What property transactions are eligible for the grant?
When making use of you will must make it possible for your property transaction can also be eligible for the grant.
You’ll be able to apply if you happen to’re buying a brand new house, have signed a contract to construct, or if you happen to’re constructing your private home your self as an owner-builder.
Whereas the grant is not accessible for the acquisition of a longtime house or for renovations to an present house, you should still be eligible if you happen to’re shopping for a house that is been ‘considerably renovated’.
There’s additionally a cap on the whole worth of the house and land that qualifies, and this will depend on the place the house is situated.
For properties within the south of the twenty sixth parallel of South latitude, which covers all Perth metropolitan areas, the mixed worth cap for the home and land is ready at $750,000.
A better cap of $1 million is ready for properties north of the twenty sixth parallel.
The right way to apply for the First House Proprietor Grant in Western Australia
You could have two choices if you happen to’re making use of for the FHOG in Western Australia.
You’ll be able to submit your utility via an authorised agent or lender as you additionally apply for a house mortgage or you’ll be able to submit an utility on to RevenueWA.
Be aware of these documentary necessities it is advisable present when making use of for the grant:
On prime of the supporting proof of property transaction and the applying type, you will must submit at the least one doc from every of the classes under, notably if you happen to’re making use of via RevenueWA.
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Class 1: Australian Citizenship and everlasting residency
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Australian start certificates/extract of passport or citizenship certificates
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Proof of everlasting residency or everlasting resident visa or
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Certificates of Proof of Resident Standing, issued by the Division of House Affairs
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Class 2: Hyperlink between id and individual (solely required if making use of via RevenueWA)
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Present Australian driver’s licence
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Present passport (if not utilized in class 1)
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Firearms licence
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Proof of Age card (with picture)
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One other id doc that features a picture.
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Class 3: Australian residence (solely required if making use of via RevenueWA)
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Medicare card
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Motorcar registration
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Centrelink or Division of Veterans Affairs card
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Debit/bank card from a monetary establishment
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Related card or doc that reveals residence in Australia
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If you’re married, separated, divorced, widowed, or utilizing a distinct title on your utility, you will want to supply corresponding paperwork offering proof of your title change.
For the acquisition of a brand new house, you will want to use for the grant inside one yr after the settlement date.
For contract-to-build and owner-builder transactions, an utility should be lodged inside one yr of the completion of the house.
When will the grant be paid?
When the $10,000 might be paid will depend on the kind of transaction and your mode of utility.
For those who’re making use of via your lender, the timing of the cost might be in accordance with the next:
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Buy of a brand new house: At settlement
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Contract to construct: After the primary progress cost and after your title is registered on the certificates of title
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Proprietor-builder: Whenever you present proof that the house is prepared for occupancy and after your title is registered on the certificates of title
When lodging your utility via RevenueWA, you’re going to get the funding when:
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Buy of a brand new house: When your title is registered on the certificates of title
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Contract to construct: After the primary progress cost and after your title is registered on the certificates of title
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Proprietor-builder: Whenever you present proof that the house is prepared for occupancy and after your title is registered on the certificates of title
Ceaselessly Requested Questions on Western Australia’s FHOG
Listed below are among the mostly requested questions on Western Australia’s First House Proprietor Grant:
Can I take advantage of the grant as a house mortgage deposit?
In sensible phrases, $10,000 is not going to be sufficient to cowl an ordinary house deposit. It could possibly be used as a part of a deposit in some circumstances (relying in your lender).
Keep in mind, nonetheless, the timing of the grant’s cost is usually not superb if you happen to’re planning to make use of it for deposit functions, particularly if you happen to’re making use of straight via RevenueWA.
Will my earnings affect my utility for the grant?
No, your earnings is not going to affect your utility for the grant.
Western Australia’s FHOG is not means-tested and does not have any income-related eligibility necessities.
When making use of for the grant alongside a associate, will every of us be capable of obtain the grant?
The grant is payable per transaction solely. Which means that two first house consumers concerned with the acquisition of a single property will solely be eligible for one grant.
Can I nonetheless apply for the grant even when I’ve property abroad?
You will nonetheless be eligible for the grant even if you happen to personal a property abroad, so long as you have by no means owned a property in Australia.
Are there any extra incentives or concessions accessible for first house consumers in Western Australia?
Sure, on prime of the FHOG, it’s possible you’ll be eligible for different incentives and concessions, together with the first house proprietor price of stamp obligation.
The FHOG may also be mixed with present housing initiatives on the federal stage, together with the House Assure Scheme.
The place can I discover a house mortgage designed for first house consumers?
Our first house purchaser loans web page options among the best rates of interest in the marketplace for first house consumers, in addition to insights and tips about buying your first property.
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