I Read in today's paper that campbell Newman is scrapping the $7000 first home owner grant, replacing it with a $15000 grant but only on new properties. Thoughts? Good or bad. Personally I think it's bad for me because my next purchase was possibly going to be a live in Reno.
The FHOG is a Commonwealth Government initiative, administered by the States
There can be no 'scrapping' of the FHOG by the States, but they can add to it if they want and they can also add other benefits eg reduction in Stamp Duties
With national TV news broadcasting, there was an item last week about 'And don't forget to hurry because the FHOG finished on 30th September!'
But it was a NSW report, and on 1st October, 2012 NSW has some changes to the administration of the FHOG in that state
I confirmed with SRO in Vic that there is no change in Vic - the $7,000 continues and the special reduction in Stamp Duty continues, but that the other Vic special benefits have now been withdrawn
As we are a Commonwealth of States it pays to remember that each State is different and for most of the States, they now have different levels of Stamp Duty for eg owner occupier, investor, health care card holders and now for first home owner occupiers!
Cheers
Kristine
