In Australia, most first-time home buyers are eligible for some level of allowance, especially those who purchase uncompleted properties. However, the amount and name of the first-time home buyer allowance varies from state to state.
The subsidies for first-time buyers have always been set by each state and territory on their own merits, and this usually includes stamp duty relief.
First Time Home Buyer
Conditions for receiving the first-time homebuyer bonus
1. The applicant needs to be an Australian citizen or permanent resident.
2. None of the purchasers and co-purchasers have ever purchased a property in Australia before.
3. The purchaser must be buying a new home.
4. The purchase cannot be made in the name of a company.
5. the purchaser must live in the house for at least six months continuously within the first 12 months of buying the house.
6. The application must be made within 12 months of the closing.
7. Applicants may apply only once and are limited to one house.
What is the Stamp Duty Deduction
Many newcomers to Australia pay attention to the subsidies available to first-time buyers in each state when buying a home. The policy is constantly changing, and in recent years the state governments have adjusted their subsidies
