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ARTICLE · 03 OCTOBER 2012

Buying property in Queensland?: Some important recent changes to be aware of

Barry Nilsson
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The Fiscal Repair Amendment Act 2012 (Qld) amends both the Duties Act 2001 and the First Home Owner Grant Act 2000.

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Tenniele Horton
Tenniele Horton
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The Fiscal Repair Amendment Act 2012 was passed by the Queensland Government on 21 September 2012. It amends the Duties Act 2001 and the First Home Owner Grant Act 2000.

Changes to the First Home Owner Grant Act

Significant changes have been made to the first home owner's grant. For contracts dated on or after 12 September 2012, the grant has increased to $15,000, but is now only available for new homes. A new home is a home that has not been previously occupied or sold as a place of residence or is a substantially renovated home (in certain circumstances). The current eligibility requirements continue to apply.

First home buyers purchasing an existing home will be eligible for the $7,000 first home owner's grant if the contract is signed and dated before 11 October 2012.

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