Australian’s national budget was released last night. I am particularly interested in this part of the budget:
The Australian Government has announced that the First Home Owner Grant (FHOG) Boost will be extended for another 6 months. However it will be phased out in December 2009. The boost will also be reduced by half after 3 months of the extension period.
For eligible buyers entering into a contract between 1 July 2009 and 30 September 2009 (inclusive), the FHOG will be $14,000 for established homes and $21,000 for new homes.
For eligible buyers entering into a contract between 1 October 2009 and 31 December 2009 (inclusive), the FHOG will be $10,500 for established homes and $14,000 for new homes.
Source: http://ato.gov.au/budget
