First Home Owners Grant (FHOG) WA
Buying your first home is a big step, but it can be even more daunting if you’re an Australian expatriate living overseas or a foreign buyer. There are a lot of things to consider, like the cost of housing, the type of loan you need, and the eligibility requirements for government grants.
If you’re planning to buy a home in Western Australia, you may be eligible for the First Home Owners Grant (FHOG). The FHOG is a one-off payment of up to $10,000 that can help you with the cost of your purchase.
In this article, we’ll take a closer look at the FHOG WA, including the eligibility requirements, how to apply, and some tips for first-time home buyers.
Eligibility Requirements for FHOG in WA
To be eligible for the FHOG in Western Australia, you must meet the following criteria:
- You must be a first home buyer. This means you must not have owned a property in Australia at any time in the past five years.
- You must be purchasing or building a new home in Western Australia.
- The purchase price of your home must be less than $750,000 if you’re located south of the 26th parallel, or less than $1 million if you’re located north of the 26th parallel.
- You must occupy your home as your principal place of residence for at least six months.
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How to Apply for FHOG WA
To apply for the First Home Owner Grant (FHOG) in WA, follow these steps:
- Obtain the application form: Visit the RevenueWA website to download the FHOG application form. It should be available for download in a printable format.
- Review the eligibility criteria: Familiarise yourself with the eligibility requirements for the FHOG in WA. Ensure that you meet the necessary criteria, such as being an Australian citizen or permanent resident, buying or building your first home, and meeting the property value limits.
- Complete the application form: Fill out the FHOG application form accurately and provide all the required information. This includes details about your personal information, income, assets, and the purchase price of your home.
- Gather supporting documents: Collect the necessary supporting documents to validate the information provided in your application. These may include proof of identity (certified copies of your passport, driver’s licence, or birth certificate), proof of residency (Australian citizenship or permanent residency documentation), and any other relevant documentation as specified in the application form.
- Attach supporting documents: Compile all the required supporting documents and attach them to your completed FHOG application form. Ensure that you provide certified copies of the documents, where necessary, and follow any specific instructions mentioned on the application form.
- Submit the application: Submit your completed application form along with the supporting documents to RevenueWA. You can typically submit it through mail or by delivering it to the designated office. Double-check that you have included all the required documents before sending them.
- Follow up on the application: After submitting your application, keep track of its progress. Retain a copy of your application form and supporting documents for your records. If you haven’t received any confirmation or communication within a reasonable time, consider contacting RevenueWA for an update on the status of your application.
When applying for the FHOG in Western Australia, you will typically need to provide the following documents:
- Proof of identity: This can be a certified copy of your passport, driver’s licence, or birth certificate.
- Proof of residency: Provide documentation to establish your Australian citizenship or permanent residency status. This can include a copy of your citizenship certificate, residency visa, or other relevant documents.
- Proof of first home buyer status: You may need to provide evidence that you have not previously owned or received a FHOG for a property in Australia. This can be in the form of a statutory declaration or other documentation confirming your first home buyer status.
- Contract of sale or building contract: Include a copy of the contract of sale or building contract for the property you are purchasing or building. This document should outline the details of the property, purchase price, and relevant dates.
- Proof of residency in Western Australia: You may need to provide documentation demonstrating that you will reside in the purchased property as your principal place of residence. This can include utility bills, rental agreements, or other supporting documents.
- Financial documents: Depending on your circumstances, you may be required to provide additional financial documentation. This can include bank statements, loan pre-approval letters, or proof of savings to demonstrate your ability to finance the purchase.
Tips for First-Time Home Buyers
If you’re a first-time home buyer, there are a few things you can do to make the process go more smoothly. Here are a few tips:
- Determine your budget: Assess your financial situation and determine how much you can comfortably afford to spend on a home. Consider factors such as your income, expenses, and potential future costs like maintenance and insurance.
- Research government incentives: In addition to the FHOG, research other government incentives or programs that may be available to first-time home buyers in Western Australia. These can provide additional financial assistance or benefits.
- Understand the home buying process: Educate yourself about the home buying process in Western Australia. Learn about property inspections, contract negotiations, and settlement procedures to ensure you are well-informed and prepared.
- Conduct thorough inspections: When viewing potential homes, conduct thorough inspections to identify any potential issues or defects. Consider hiring a professional building inspector to provide a detailed assessment.
- Consider future plans: Think about your long-term plans and how the home fits into them. Consider factors like proximity to schools, amenities, transportation, and potential for future growth in the area.
- Be patient and flexible: The home buying process can take time, and it’s important to be patient and flexible. Don’t rush into a decision and be prepared for potential delays or changes in circumstances.
Considerations for Australian Expats
Australian expats may still be eligible for the FHOG in WA, but eligibility can vary depending on factors such as residency status and the specific criteria set by the State Revenue Office of WA. Here are some considerations:
- Residency status: Australian expats who are still considered Australian citizens or permanent residents are generally eligible for the FHOG in WA. However, if you are classified as a non-resident for tax purposes, you may have different eligibility requirements or limitations. It’s important to consult with the State Revenue Office or a professional advisor to determine your specific eligibility.
- Proof of residency: Expats may need to provide additional documentation to establish their residency status and eligibility for the FHOG. This can include proof of Australian citizenship, a valid Australian passport, or evidence of permanent residency.
- Temporary absence provisions: If you are an Australian expat living overseas temporarily, you may still be eligible for the FHOG if you intend to return to Australia and occupy the purchased property as your principal place of residence. Temporary absence provisions may apply, but it’s important to review the specific guidelines and requirements.
- Non-resident considerations: If you are classified as a non-resident for tax purposes, you may not be eligible for the FHOG in WA. In such cases, it’s advisable to explore other incentives or programs available to non-residents, if any, or consult with a professional advisor for guidance on your specific circumstances.
Given the complexities surrounding expat eligibility for the FHOG, it’s highly recommended to consult with a professional advisor, such as a migration agent or tax specialist, who can provide personalised advice based on your residency status and specific situation.
Consult a Expat Home Loan Specialist
If you’re an Australian expatriate living overseas or a foreign buyer interested in the FHOG in WA, it’s essential to explore your eligibility for this valuable program. The FHOG can provide significant financial assistance towards your first home purchase in WA.
Contact one of our expat mortgage brokers today to learn more about the FHOG and explore your options as an Australian expatriate or foreign buyer in Western Australia.
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Frequently asked questions
If you’re buying an established home, you may be eligible for the concessional first home owner rate of duty. This means you’ll pay a reduced rate of stamp duty on your purchase.
If you’re buying a home with someone else, you can both claim the FHOG WA. However, the total amount of the grant is capped at $10,000.
Once you have submitted your application for the First Home Owner Grant (FHOG) in Western Australia (WA), it generally takes up to eight weeks for the processing to be completed. However, it’s important to note that the processing time can vary depending on factors such as the volume of applications received and the completeness of your application.
During the processing period, the State Revenue Office of WA will review your application, verify the information provided, and assess your eligibility for the FHOG. They may also contact you for any additional documentation or clarification, if needed.
To ensure a smooth and efficient processing of your application, make sure you have submitted all the required documents and accurate information. It’s also advisable to keep track of your application and follow up with the State Revenue Office if you have not received any confirmation or communication within the estimated timeframe.