Queensland Office State Revenue – Changes to First Home Owner Grant
From 1 July 2016 the Great Start Grant will be known as the Queensland First Home Owners’ Grant.
The Queensland Government has also announced a one-off, 12-month boost of $5,000 to the grant, which will be worth $20,000 from 1 July 2016.
An applicant is not eligible for the $20,000 grant if a contract replaces another contract that was made before 1 July 2016. An applicant may still be eligible for the $15,000 grant.
For the $20,000 grant, an eligible transaction is one of the following:
• a contract made on or after 1 July 2016 for the purchase of a new home in Queensland (including purchases of substantially renovated and off-the-plan homes)
• a comprehensive home building contract made on or after 1 July 2016 by the owner of the land in Queensland or a person who will, on completion of the contract, be the owner of land in Queensland on which the new home will be built
• the building of a new home in Queensland by the owner–builder where the foundations are laid on or after 1 July 2016.
Please refer to the OSR website for full details.