Other Schemes

Housing Construction Grant

For further information please see the Housing Construction Grant page.

Off-the-plan Stamp Duty Concession

For further information please see the Off-the-plan Concession page.

First Home Bonus Grant

The First Home Bonus Grant (FHBG) is available for contracts entered into between 5 June 2008 and 14 October 2012 (inclusive) and is payable in addition to the First Home Owner Grant (FHOG). Applicants are required to meet the eligibility criteria of the FHOG in order to be eligible for the FHBG.

Eligible transactions commenced between 17 September 2010 and 14 October 2012 The FHBG provides an additional $8000 to eligible first home buyers, building a home or purchasing a newly-constructed home.
  

Eligible transactions commenced between 5 June 2008 and 16 September 2010

The FHBG provides an additional $4000 to eligible first home buyers purchasing an established home, building a home or purchasing a newly-constructed home.

A newly-constructed home (including a substantially renovated home) means a property that has never been sold by the builder/vendor, or been occupied as a residence by a tenant or other occupant. The purchaser must provide proof, such as a statement from the vendor or other evidence, that the property meets these requirements for them to be eligible for the higher level of the FHBG.

How much is the FHBG?

A FHBG was available for homes where the market value does not exceed $400 000, and phases out for new homes with a market value between $400 000 and $450 000 at a rate of $16 for every $100 in excess of $400 000.


The table below outlines the maximum FHBG grant available in increments of $5000 increases over $400 000.

Market Value

FHBG

New and Established Homes
5 June 2008 to 16 September 2010

FHBG

New Homes
17 September 2010 to 14 October 2012


  Up to $400 000

  $4000

 $8000

$405 000

$3600

$7200

$410 000

$3200

$6400

$415 000

$2800

$5600

$420 000

$2400

$4800

$425 000

$2000

$4000

$430 000

$1600

$3200

$435 000

$1200

$2400

$440 000

$800

$1600

$445 000

$400

$800

$450 000 and above

Nil

Nil

Property Value Cap

A property value cap applies. The property value cap is $450 000 based on the market value of the property purchased or built.

In the case of a contract to purchase a home the market value is:

  • the consideration for the purchase of the property; or

  • where the consideration is less than market value, the market value of the property.

In the case of comprehensive building contract the market value is:

  • the sum of the consideration for the building contract and the market value of the land on which the home is to be built as at the time the contract is made; or

  • where the consideration for the building contract is less than actual costs, the sum of the actual costs to build the home and the market value of the land on which the home is to be built as at the time the building contract is made.

In the case of an owner builder the market value is:

  • the market value of the property on which the home is situated at the time the home is completed and ready for occupation as a place of residence.

NOTE: in the cases of a genuine farm the market value of the property will be determined on the value of the home and curtilage area of that part of the land that is to constitute the site and curtilage of a home that is to be built on that site.

Commencement and completion dates

Contract to build a new home

For an eligible transaction entered into on or after 10 June 2011, building must commence (i.e. the foundations must be laid) within 26 weeks after the contract is executed and the contract must specify a completion date of within 18 months of commencement.

If no completion date is specified in the contract, the construction must be completed within 18 months after the foundations are laid.

The completion date is the date the building becomes ready for occupation as a place of residence.

Owner builder

Where construction commenced on or after 10 June 2011, construction of the home must be completed within 18 months after its commencement date.

The commencement date is the date when laying of the foundation commences or another date the Commissioner of State Taxation considers appropriate in the circumstances of the case.

The completion date is the date the building becomes ready for occupation as a place of residence.

Off the plan

In the case of contracts executed between 1 July 2012 and 14 October 2012 (inclusive), the contract must state that the new home will be completed on or before 14 April 2014. If no date is stated in the contract, an application may be made prior to completion; however payment of the FHBG will not be made until after completion. Construction must be completed before 14 April 2014.

In the case of contracts executed between 10 June 2011 and 30 June 2012 (inclusive), the contract must state that the new home will be completed on or before 31 December 2013. If no date is stated in the contract, may be made prior to completion; however payment of the FHBG will not be made until after completion. Construction must be completed before 31 December 2013.

The completion date for an off the plan home is the date the purchaser becomes entitled to possession under the contract and they obtain registered title to the land on which the home is situated.

Replacement contracts

You will not be eligible for the FHBG if you have entered into a contract that replaces an existing contract made outside of the relevant eligible dates for the FHBG, and that earlier contract was:

  • a contract for the purchase of the same home; or

  • a comprehensive home building contract to build the same or a substantially similar home.

How do I apply?

You need to complete an Addendum to the First Home Owner Grant Application and lodge it with your First Home Owner Grant Application. Both can be lodged with RevenueSA or with an Approved Agent if you are borrowing funds from the agent, as part of buying or building your new home.

Applications need to be made within 12 months of completing the transaction.

Further information

For further information contact RevenueSA on (08) 8226 3750 or email fhog.support@sa.gov.au.