A First Home Owners’ Grant can be a confusing thing for those approaching it from the outside. Many don’t fully understand why the First Home Owners’ Grant was instituted in the first place. The Grant was created in the year 2000. The primary goal is to offset the GST, or Goods and Services Tax. This allows individuals who are purchasing a home from a lower position of financial status to handle it much more effectively and safely.
At its inception in the year 2000, this allowed first-time homeowners to offset $7000. This was a one-time event, but it did a great deal to offset the cost of the Goods and Services Tax. This was deployed as an economic stimulus measure. While the taxes were being offset, it still put many Australians in a position to afford a home for the first time, thus propping up the market and benefiting all involved.
In 2008, the Australian government saw fit to compensate for the incoming economic downturn and offered $14000 for first-time buyers, or $7000 to those that were investing in their first established home. Shortly thereafter, this halved. For 2012-2013, $15,000 has been made available in the same fashion, reducing to $10,000 in the year 2014.
For those looking to establish a home, this remains a fantastic boon that can simplify life and finances very greatly. This can also grant individuals more mobility as it allows them to move more easily with the associated costs defrayed. For instance, for those taking advantage of a first home owners grant wa may become more accessible, even if they’re making their way from Queensland. It’s a very grand financial benefit that’s very hard to ignore for those that are looking to establish a home for themselves and their families to sustain them through their lives.
The benefits of a First Home Owners Grant are plain to anyone who has occasion to be looking at real-estate for the first time. For those fresh out of university or those simply tired of renting, these grants can make a much broader variety of properties accessible. Not only will this help those who are financially disadvantaged, it’s incentive for those who are well-off to invest in the real estate market. It has been generally effective as an economic stimulus, and it can be expected that such grants will be available for quite some time to come.