Real Estate News
| First Home Owner Grant amount changes | |
Market Place Realty, Thu 26 September 2013 |
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 The 2013-14 State Budget included a measure to increase the FHOG from $7,000 to $10,000 for first home buyers purchasing or building a new home and to provide a $3,000 grant for those purchasing an established home. These changes were intended to apply from the later of 15 September 2013 or the day after the amending legislation receives Royal Assent, and will apply to contracts entered into (or for an owner-builder where construction of the home commences) on or after that date. The relevant amendments are included in the Revenue Laws Amendment Bill 2013. The Bill was passed by the Legislative Assembly of the Western Australian Parliament on 11 September 2013 and was Second read into the Legislative Council on the same day. Passage of the Bill did not occur by 15 September 2013 as expected, therefore the commencement date will be the day after the amending legislation receives Royal Assent, which is anticipated to be in late October. Further updates on the progress of the Bill will be posted on http://www.finance.wa.gov.au/cms/section.aspx?id=209 |
