IFC for BHP

A: There are four available to you, First home Concession(stamp duty), First home guarantee scheme, First home owner grant and First home super saver scheme.

A: As the name suggest, you need to be a first home buyer, the purchase limits are different in each state, for example, in QLD this has recently increased from $500,000 to $700,000 with no stamp duty payable,  there are some other government fees that still apply. Example, $700,000 purchase, stamp duty Nil (saving of $17,350), other government fees are $2,729.08. There are still some savings between $700,000 and $800,000 purchase, but diminish as you get higher to $800,000 where there is no benefit.  

A: This is for first home buyers that have not had an interest in property before,  you only need a minimum deposit of 5% of purchase price, the purchase price limits are different for each suburb,  there are 35,000 spots available each financial year. Income limits apply for a single and couple, please contact us for information specific for your circumstance.

A: YES, its different in each state, in Queensland its called ‘First Home Owner Grant’, the rebate has recently increased to $30,000 if you purchase a new dwelling below $750,000.

A: The short answer is maybe. The official wording from the ATO is all non-mandated contributions are eligible to be added to the FHSS. However as different funds treat these contributions differently you will need to check with you superannuation provider on how they are being recorded and if they are able to be withdrawn.