The FHOG scheme provides eligible first home owners with a $7000 grant in relation to the purchase or construction of a home.
It is an ongoing scheme introduced on 1 July 2000 to encourage and assist home ownership and to offset the effect of the GST on home ownership.
FHOG is not means tested however, from 1 January 2010 eligibility ceases to apply if the consideration for, or the value of the home is more than $750 000. This includes the unencumbered value of the land on which a home is to be built.
TRO administers FHOG with the assistance of financial institutions that are approved agents.
| On 31 May 2010 the Government announced that persons who purchased land in the new suburb of Bellamack up to 31 December 2009 will be eligible for the First Home Owner Boost.
For details on the application requirements, please contact the Territory Revenue Office on 1300 305 353 or email ntrevenue.ntt@nt.gov.au. |
FHOB is a Commonwealth initiative, administered by the Territory Revenue Office.
It was announced on 14 October 2008 and provides a temporary increase to the $7000 FHOG (provided by the Territory) for the period 14 October 2008 to 30 June 2009 inclusive. The scheme was extended for a further six months expiring on 31 December 2009 as part of the Commonwealth’s 2009-10 Budget.
FHOB applies to first home owners that enter into a contract to purchase or build a new home or a contract to purchase an existing home between 14 October 2008 and 31 December 2009 inclusive. It also applies to owner builders that commence construction (laying of foundations) of a new home during this period.
A new home is a home that has never been previously occupied as a residence, including occupation by the builder, a tenant or other occupant. Where it is being purchased, it must be the first sale of that home. Substantially renovated homes may also qualify as a new home.
The amount of FHOB depends on whether it is a new home or an established home and the date the purchase or building contract was entered into, or for owner builders, the date construction commenced as detailed in the following table.
Where the consideration or construction cost is less than the combined amount of the FHOG and FHOB, the applicant is only entitled to a grant equal to that amount. Construction costs do not include an owner builder’s own labour.
| Transaction type | FHOG |
FHOB |
Total |
| New home | |||
| 14 October 2008 to 30 September 2009 | $7 000 |
$14 000 |
$21 000 |
| 1 October 2009 to 31 December 2009 | $7 000 |
$7 000 |
$14 000 |
| Established home | |||
| 14 October 2008 to 30 September 2009 | $7 000 |
$7 000 |
$14 000 |
| 1 October 2009 to 31 December 2009 | $7 000 |
$3 500 |
$10 500 |