The Federal Government’s First Home owner boost scheme has generated some much needed activity in affordable markets across the country since it was announced in the 2009-10 Budget.
Phasing out the boost scheme
From 1 October 2009 to 31 December 2009 inclusive, the First Home Owner Boost will see eligible first-time buyers, who enter into contracts in Queensland, receive $3,500 for established homes and $7,000 for new homes in addition to the existing $7,000 Queensland Government grant. This provides a total of $10,500 for established homes and $14,000 for new homes. The Boost is due to be phased out completely from 1 January 2010, from which time first home buyers will receive the original $7,000 grant only.
Eligibility requirements
To be eligible for the Grant and Boost, first-time buyers must move into their property within one year of the date of transfer and must live in the home as their principal place of residence for a minimum, continuous period of six months. Many first-time buyers can also claim stamp duty concessions, but eligibility requirements do differ from those that apply to the Grant and Boost Scheme. To claim stamp-duty concessions on a first home purchase, the buyer must move into the property within one year of the date of transfer and must live in the home as their principle place of residence for a minimum, continuous period of 12 months.
Ray White Northern Beaches took another opportunity to raise money for the many who have to deal will cancer everyday! The morning event raised $150 for the Cancer Council Australia.
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