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First Home Owner Grant changes for regional Victoria

The Victorian Government has recently announced housing initiatives.

This includes an intention to increase the First Home Owner Grant (FHOG) from $10,000 to $20,000 for new homes built in regional Victoria (see below) and valued up to $750,000.

This will apply for contracts signed from 1 July 2017 to 30 June 2020. Eligible first-home buyers of new homes in metropolitan Melbourne will continue to receive the $10,000 FHOG.

Additional announcements included land transfer (stamp) duty for first-home buyers, off-the-plan concessionsand a tax for vacant residential property.

These changes have to be approved by the Victorian Parliament before they can begin. You should only rely on the exact detail of the changes once the legislation is passed. This is likely to be in June 2017.

More information ◥

Regional areas of Victoria

The following are regional councils where first-home buyers will qualify for the $20,000 FHOG.

Table of municipal councils in regional Victoria

Municipal councils A-G Municipal councils G-M Municipal councils M-Y
Alpine Shire Council Greater Geelong City Council Murrindindi Shire Council
Ararat Rural City Council Greater Shepparton City Council Northern Grampians Shire Council
Ballarat City Council Hepburn Shire Council Pyrenees Shire Council
Bass Coast Shire Council Hindmarsh Shire Council Borough of Queenscliffe
Baw Baw Shire Council Horsham Rural City Council South Gippsland Shire Council
Benalla Rural City Council Indigo Shire Council Southern Grampians Shire Council
Buloke Shire Council Latrobe City Council Strathbogie Shire Council
Campaspe Shire Council Loddon Shire Council Surf Coast Shire Council
Central Goldfields Shire Council Macedon Ranges Shire Council Swan Hill Rural City Council
Colac Otway Shire Council Mansfield Shire Council Towong Shire Council
Corangamite Shire Council Mildura Rural City Council Wangaratta Rural City Council
East Gippsland Shire Council Mitchell Shire Council Warrnambool City Council
Gannawarra Shire Council Moira Shire Council Wellington Shire Council
Glenelg Shire Council Moorabool Shire Council West Wimmera Shire Council
Golden Plains Shire Council Mount Alexander Shire Council Wodonga City Council
Greater Bendigo City Council Moyne Shire Council Yarriambiack Shire Council

Article Courtesy of : State Revenue Office 

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