Stimulus Schemes
Commonwealth's First Home Owner Boost
Please note: The First Home Owner Boost ceased to apply for contracts entered into on or after 1 January 2010.
The First Home Owner Boost scheme is an Australian Government Scheme to assist first home buyers purchase or build their first home. The scheme is administered by the NSW Government and is in addition to the $7,000 First Home Owner Grant.
The Australian Government announced changes to Commonwealth’s First Home Owner Boost in the Federal Budget on 12 May 2009.
For contracts made between 14 October 2008 to 30 September 2009 (inclusive):
first home buyers who purchase established homes will receive a boost of $7,000 that will double the grant to $14,000
first home buyers who build a new home or purchase a newly constructed home will receive an extra $14,000 to take their grant to $21,000.
For contracts made between 1 October 2009 to 31 December 2009 (inclusive):
first home buyers who purchase established homes will receive a boost of $3,500 that will take their grant to $10,500
first home buyers who build a new home or purchase a newly constructed home will receive an extra $7,000 to take their grant to $14,000.
Refer to First Home Owner Boost factsheet for information.
NSW New Home Buyers Supplement
Please note: The NSW New Home Buyers Supplement ceased to apply for contracts entered into on or after 1 July 2010.
First home buyers in NSW who qualify for the First Home Owner Grant and are buying a newly constructed home or building their first home may be eligible for an additional $3,000 payment known as the NSW New Home Buyers Supplement.
The $3,000 NSW New Home Buyers Supplement is in addition to the First Home Owner Grant and the Australian Government’s First Home Owner Boost.
Refer to NSW New Home Buyers Supplement factsheet for further information.
The following table identifies the grants available to first home owners during the stimulus period 14/10/2008 to 30/6/2010. The amount payable is determined by the date of your eligible transaction.
The total grant shown is in addition to any First Home Plus Duty exemption available to first home buyers. First Home Plus offers an exemption from duty of up to $17,990. When added to the grant payable, benefits up to $41,990 are available to first home owners in NSW.
