REAL ESTATE by liuqingyan


									-   First Home Owners Grant (FHOG)
    The First Home Owner Grant Scheme was introduced on 1 July 2000 and
    provides a $7,000 grant to first home buyers to purchase their first home.
    The grant which is fully funded and administered by the individual states and
    territories is ongoing and is not means-tested, nor is it restricted to new or
    established homes by the purchase price or construction cost of the home.

-   First Home Owner Boost (FHOB)
    The Commonwealth Government announced a First Home Owner Boost (FHOB)
    on 14 October 2008 to supplement the FHOG Scheme.
-   The Boost is part of the Government’s fiscal stimulus package in response to the
    global financial slowdown.
-   The Boost applies to contracts entered into on or after 14 October 2008 and on
    or before 30 June 2009, allowing first home buyers who purchase established
    homes will receive an additional $7,000, and those that build a new home or
    purchase a newly constructed home will receive an extra $14,000.

-   Additional State Concessions
    In addition to the FHOG and the FHOG all states except Tasmania have
    available other concessions for first home buyers, either a fixed amount grant –
    in some cases at a different level for new and established homes and in one
    case at a different level for homes in regional areas – and/or concessional stamp

    The following table summarises the state concessions:
-   Total Incentives for First Home Buyers
    The following table indicates the current level of all incentives available to first
    home buyers by state on the basis of the purchase of a median priced home.

-   Real Estate Institute of Australia, 2009

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