Definitions for "First Home Owners Grant"
Federal Government incentive to first homebuyers giving or $7000, this is a one off payment.
The Federal Government introduced the FHOG on 1 July 2000. Although it was initially established to assist counterbalance the increased cost of building a home due to the GST, it also applies to buying an established home. The amount of the grant is a non-means tested flat rate of $7,000.
The First Home Owners Grant is a grant from the Federal Government which is available as compensation for the increased cost of housing after implementation of the Goods and Services Tax (GST) on 1 July 2000. The grant of $7,000 is available for first home buyers.