First Home Owner Grant Eligibility

Before applying for the First Home Owner Grant, there are a few things to check. First, you and your spouse must have a qualifying transaction in place. Along with that, you'll need to meet some additional criteria to make sure you're eligible.

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Age Eligibility

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To be eligible for the First Home Owner Grant, you (and any co-applicants) must be at least 18. It's a requirement for all individual applicants.

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However, the Commissioner of State Revenue may exercise discretion regarding specific eligibility criteria in certain exceptional situations. For example, if you're under 18 years of age or if an application is made on behalf of a legal disability trust by a guardian, there may be special considerations.

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Citizenship

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You must be an Australian citizen or permanent resident (or applying with someone who is).

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If you are applying for the grant as a joint applicant, for example, you are not a permanent resident, but your spouse is an Australian citizen—you may be eligible if you meet the other eligibility requirements.

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A permanent resident holds a permanent visa, or is a New Zealand citizen with a special category visa, as defined by the Migration Act 1958 (Cwlth).

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A New Zealand citizen with a special category visa must have a current New Zealand passport to be a permanent resident.

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Previous Grant Recipient

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You or your spouse should not have previously received a first home buyer grant in any state or territory of Australia. However, if you received a grant in the past but later paid it back, along with any penalties, you might be eligible to reapply for the grant.

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Previous Home Ownership

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You or your spouse must not have owned residential property in QLD under the following circumstances:

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• On or after 1 July 2000 that you lived in.
• Before 1 July 2000, whether you lived in it or not.

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Investment Property Considerations

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The First Home Owner Grant is not intended to purchase investment properties. However, there's a possibility for eligibility in certain situations:

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If you've had an ownership interest in residential property solely for investment purposes since 1 July 2000 and have not lived in it, you may still qualify for the grant when buying a new property that you intend to use as your first home.

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You'll need to provide comprehensive evidence covering the entire ownership period to demonstrate that you haven't resided in the investment property. This evidence may include:

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• Tenancy agreements QLD.
• Utility bills (such as electricity or phone accounts) showing that the property was not your primary residence.
• Tax return details that confirm the property's classification as a rental property for the entire period of ownership.

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Residence Requirements

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Meeting the residence requirements is crucial to be eligible for the First Home Owner Grant. Here's what you need to know:

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• You must move into your brand-new home as your primary residence within one year of the completed transaction. Once there, you should continuously live in the home for at least six months.
• During your six-month residency period, you're allowed to rent out one or more rooms in your home as long as it doesn't interfere with your use of the property. However, it's essential to note that renting out any rooms in the first year after you move in might impact your eligibility for other benefits like the first home concession or first home vacant land concession.
• Remember that while the residence requirements for the grant are similar to those for the first home concession, these are separate benefits, and you need to meet the requirements for each. For example, you can rent out the home before moving in and still receive the grant, but you may lose the first home concession.
• Be prepared to provide documentation later on to verify that you've met these residence requirements for all applicants.

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In exceptional circumstances, the Commissioner may exercise discretion regarding specific eligibility criteria, such as situations where you move into the home after one year or live in it for less than six months. To understand the differences, compare the requirements for first home concessions and the First Home Owner Grant.

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First Home Buyers Grant QLD: What You Need to Know

When it comes to the 2023 First Home Buyers Grant QLD, here's the scoop:

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Grant Value

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Eligible first-time home buyers can snag a generous, tax-free payment of $15,000. This financial boost can be a game-changer, easing the initial costs of purchasing or building your very first home.

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Property Types

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The grant is super flexible and covers a range of property types, so you can pick the one that suits you best. Here's the lowdown on what qualifies:

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• Houses: You can use the grant for a brand-new, standalone house as long as it hasn't been lived in or sold as a residence before. Plus, it's got to meet all those local planning and building rules.
• Units: If you're eyeing a newly constructed unit within a multi-unit development, you're in luck. The unit needs to be fresh and unoccupied, following local planning and building regulations.
• Townhouses: Newly built townhouses also cut the First Home Owners Grant in Brisbane. They've got to be brand new, not previously occupied or sold as a residence, and, of course, meet all the planning and building requirements.

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Maximise Your Property Investment with Houst

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Looking to unlock the full potential of your property investment? Consider partnering with Houst. Whether you're a seasoned investor or a first-time buyer benefiting from the First Home Buyers Grant QLD, Houst can be your trusted property management partner.

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Our dedicated team removes the hassle from property rental management, ensuring your rentals Brisbane are safe. We handle everything from property listings and tenant screening to maintenance and guest management.  So, whether you're looking to rent out your new property or manage an existing investment, let Houst simplify the process and maximise your rental yields.