First Home Owners Grant changes in Victoria, Australia 2013

First Home Owners Grant

The Victorian state government has announced that it will be SCRAPPING the $7,000 first home owners grant for existing houses.

The Victorian state government has announced that it will be INCREASING the $7,000 first home owners grant for New houses to $10,000.

The scheduled date for this change is 1st July 2013

Subject to the passage of legislation, for contracts entered into on or after 1 July 2013 eligibility for the First Home Owner Grant will be limited to buyers of new homes and will be increased from $7,000 to $10,000.
http://www.sro.vic.gov.au/sro/SROnav.nsf/alltitle/First%20Home%20Owners?open

The First Home Owner Grant is not means-tested.
The First Home Owner Grant is for properties priced UNDER $750,000

Since 1 January 2010, this grant became payable where the price of the property or construction of the home did not exceed $750,000.

First Home Owners Bonus

The separate First Home Bonus was scrapped for contracts entered into on or after 1 July 2012.