FHOG Extended?

From: Tracey Betts


I missed the news about the extension of the FHOG and wondered if anyone knew the latest details.

Thanks
Tracey B
 
Last edited by a moderator:
Reply: 1
From: John P


I'm pretty sure that I hear on the news about 2 days ago that the $7,000 grant has been extended indefinitely. Has anyone heard anything to the contrary?

John_P
 
Last edited by a moderator:
Reply: 2
From: David Gordon


Apparently we will have to wait for the May Budget for confirmation on this.

Pre-Budget "leaks" seem to indicate that its a fair bet to continue for some time - "indefinitely" may be a bit long ????

Cheers

DaveG
 
Last edited by a moderator:

Sim

Administrator
Reply: 1.1
From: Sim' Hampel


I read some comments in the AFR that said that there was debate about extending the $14K/$10K FHOG for new homes beyond the current June 30 finish, but that the $7K FHOG was always intended to be an ongoing thing.

Something about offsetting GST, which I didn't really understand, as it is the new homes which attract GST, not the existing ones. It was only a sidebar comment, so no real details were given.

sim.gif
 
Last edited:
Reply: 1.1.1
From: Geoff Whitfield


Sim',

My understanding of the FHOG was that $7K was always available- but the additional $7K (no reduced to $3K extra) was only available for newly built homes- thus the GST offset.

Geoff
 
Last edited by a moderator:

Sim

Administrator
Reply: 1.1.1.1
From: Sim' Hampel


On 4/26/02 10:52:00 PM, Geoff Whitfield wrote:
>My understanding of the FHOG
>was that $7K was always
>available- but the additional
>$7K (no reduced to $3K extra)
>was only available for newly
>built homes- thus the GST
>offset.

Yup, I got that bit Geoff, it's the ongoing payments where the questions arise. Will the $7K FHOG continue indefinitely ? And if so why ? Certainly not to offset GST - as GST does not apply on existing homes ?

sim.gif
 
Last edited:
Reply: 1.1.1.1.1
From: Geoff Whitfield


The $7K FHOG has been available long before GST. So there's not a need related to GST to stop it.

I suspect the government has seen the extension to the FHOG as a good way to stimulate the economy when things were slower, and may be reluctant to lose that stimulus for now.
 
Last edited by a moderator:

Sim

Administrator
Reply: 1.1.1.1.1.1
From: Sim' Hampel


No Geoff, the FHOG came into effect on July 1, 2000 - the same time that GST was introduced.

The grant was introduced:

"To offset the impact of the introduction of the goods and services tax (GST)"

(from http://www.firsthome.gov.au/)

sim.gif
 
Last edited:
Top