First home buyer Rebecca decides to purchase an off-the-plan apartment First home buyer Rebecca enters into a contract to purchase an off-the-plan apartment valued at $550,000 on 6 October 2020. Rebecca’s bank applies on her behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant.
The revenue office conducts the eligibility checks and reviews Rebecca’s application documentation. The revenue office confirms that Rebecca is an Australian citizen, over the age of 18, has a taxable income under $125,000 based on her 2018-19 tax return and the value of the off-the-plan apartment is under the $750,000 contract price cap. Last updated: 4 June 2020 3 As Rebecca is a first home buyer, she may also be entitled to their State’s First Home Owner Grant and stamp duty concessions as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.
First Home Buyers
20 April, 2021