Regional Relocation Grant
The Regional Relocation Grant (the Grant) provides a one-off $7,000 payment to approved applicants to assist with the cost of relocating from a metropolitan area to a regional area.
The Regional Relocation (Home Buyers Grant) Amendment Act 2013 received assent on 20 November 2013. Some changes to the scheme have been made.
What is a regional area?
A regional area includes participating local government areas outside the following metropolitan areas:
- Sydney metropolitan area
- Blue Mountains
The Byron local government area, although a regional area, opted out of the scheme as at 16 March 2012. Properties acquired in the Byron area between 1 July 2011 and 15 March 2012 may qualify. However any purchases on/or after 16 March 2012 will not be considered .
If you are uncertain of the Local Government Area (Council name) for the home you are selling or buying, you can conduct a 'Local Council Search' through the Division of Local Government website.
Are there any eligibility requirements?
To be eligible for the Grant, you must meet the following criteria:
An applicant must own a regional property or be the lessee under a long term lease, and must also be the owner or previous owner of a metropolitan property
An applicant must be a natural person (a real person not a legal person, that is, Public or private business)
An applicant must not purchase the regional home in his or her capacity as a trustee
At least one applicant must be an Australian citizen or permanent resident at the completion date of the regional property purchase or the commencement date of a long term lease
An applicant must have entered into an agreement to purchase a home or vacant land on which to build a home, or be granted a long term lease over a property, within a regional area
At least one applicant must have occupied the metropolitan home as their principal place of residence within the 12 months before the commencement date of the regional property purchase or lease
The value of the regional home must not exceed $600,000 or $450,000 for vacant land. For a long term lease the incoming contribution or upfront fee must not exceed $600,000.
The whole of the metropolitan home must be sold within the 12 months preceding the commencement date for the purchase or lease of the regional property or within 12 months after completion. In the case of a contract to purchase, completion is the date of registration. In the case for a long term lease, completion is the date the lease commences
All applicants must occupy the regional home as their principal place of residence for at least 12 continuous months commencing within 12 months after the completion date of the purchase or the commencement of a long term lease
An applicant must not have received an earlier grant under the Regional Relocation (Home Buyers Grant) Act 2011.
How do I apply for the Grant?
When can I apply for the Grant?
You can make an application after the regional home or vacant land is purchased, and the title is in your name, or when the lease period has commenced.
Note: all applications must be lodged within 12 months after completion of the purchase or after the commencement date of a long term lease. No applications will be accepted after 31 December 2015.
How is the Grant paid?
The Grant is paid electronically directly to your nominated account.
When is the Grant paid?
The Grant will be paid within 21 working days after a complete application, together with the required supporting documents, have been lodged.
What is a long-term lease?
A long-term lease must provide you with a degree of permanency and security that is equivalent to the ownership of the property.
Residential tenancy leases for terms of 6 months to 5 years do not provide this degree of permanency and security, and are not eligible for the Grant.
Only leases, for say, 15 to 99 years where there is a substantial upfront fee or incoming contribution to be paid will be considered for the Grant.
What happens if I cannot meet the conditions of the Grant?
If you cannot meet the conditions of the Grant, the Grant must be returned within 12 months and 14 days from the completion date of the regional home purchase to avoid penalties.
To return payment, make a cheque out to the Office of State Revenue and attach a letter providing the following information:
reason(s) why you are no longer entitled to retain the Grant (e.g. I have decided not to relocate to the regional area or I have decided not to sell my metropolitan home)
your Regional Relocation Grant reference number
your full name and current address
the address of the regional home for which the Grant was paid.