First Home Owners Grants and Assistance In The Northern Territory

The Northern Territory offers both a First Home Owners Grant and concession on stamp duty.

First Home Owners Grant (FHOG)

From 1 January 2015, the First Home Owner Grant of $26,000 will only be available to first home buyers who choose to build or purchase a new home with the contract date being after 1 January 2015.

The First Home Owners Grant is not means tested, however, depending on when you purchased the home or entered into the contract, thresholds may apply. Since 1 January 2015, no threshold has applied on eligible transactions. You can find out more about the First Home Owners Grant here.

Principal Place Of Residence Rebate

If you aren’t eligible for the First Home Owners Grant, you may be eligible for the Principal Place of Residence Rebate (PPRR) which is a discount on stamp duty worth $7,000. This is only for new land or homes, although substantially renovated homes may be considered as well.

Household Goods Grant Scheme

This scheme was introduced on 1 October 2016 to help eligible first home owners of new homes with a grant of $2000 to buy household goods for that home. This grant is not available for first home buyers of established homes, however, if you check the Trade, Business and Innovation website you may find other grants you are eligible for.

For more information on grants and assistance in the Northern Territory for buying your first home, click here.

If you’d like help with your home loan and applying for any possible grants, click here to make an enquiry and be connected with a MoneyQuest broker in your area.

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