The Great Start Grant
First Home Owners Grant
The Great Start Grant is a Queensland Government initiative designed to help first home owners to build or buy a new home. A new home is a brand new dwelling for residential purposes used as a principle place of residence that has not been previously occupied as a place of residence or sold as a place of residence.
In order to claim the Grant you must move into your home within one (1) year of the home being ready for occupation (all completion requirements e.g. final inspection certificate have been complied with) and you must live there for at least 6 months continuously in order to keep the grant.
An application for the Grant is also required to be made to the Office of State Revenue before the one (1) year expiry (as outlined above). In the event that the application is not made within this time frame you will be barred from making a claim.
Should you initially intend to use the property as an investment and subsequently decide that you wish to reside in the property you will be able to claim the Grant only in the event that no tenant(s) resided in the property and/or no investment income was earned on the property prior to the application.
- Buyer cannot be a company or a trust;
- Buyer must at least 18 years of age;
- Buyer must be an Australian citizen or permanent resident (or applying with someone who is an Australian citizen or permanent resident);
- Buyer or spouse has not previously owned property in Australia;
- Purchase price cannot be more than $750,000.00
Please note that if you held an interest in residential property before 1 July 2000, regardless of how the property was used, you will not be eligible for the grant. If you have held or currently hold an interest in residential property since 1 July 2000 and the property was or is used solely for investment purposes, you may be eligible for the grant on a subsequent property. You would need to give evidence showing you have not lived in the investment property.
Should you have any queries pertaining to the above information please do not hesitate to contact our office.
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