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$10k Building Boost Grant has been extended to the 30th April 2012!

Are you currently looking to purchase vacant land or a new home in Queensland?

If you are, then you may be eligible to apply for the $10,000.00 building boost grant.

Eligible applicants must do one of the following before 30 April 2012;

  1. Enter into a Contract to purchase a new home;
  2. Enter into a Home Building Contract to have a new home built;
  3. Or commence building a new home as an owner builder.

The total value of the home (including the land) or the consideration paid for the property must be less than $600,000.00.

There are specific times frames involved which include, for a Home Building Contract the building work must commence within 26 weeks from the date the Building Contract was made and be completed within 18 months of the work starting, and for an owner builder the work must be completed within 18 months of the work starting.

Another condition is the home must be occupied for at least 3 months (whether or not continuous) during the year after completion of the transaction. It does not matter who occupies the home. For example it can be occupied by a family member or rented to a tenant.

Stamp duty

When purchasing a property there is a Duty (stamp duty) levied from the government. Depending on your circumstances you could be eligible for an exemption or a concession from stamp duty.

If this will be your first home purchase and the consideration price is under $500,000.00, then you will be eligible for the full stamp duty exemption, meaning that no stamp duty will be payable.

If you are purchasing vacant land there is the first home vacant land stamp duty concession available for buyers who have never owned residential land in the world before and who purchase land up to $399,999.99.

Call us today and we can provide you with a stamp duty calculation based on your prospective purchase price. WE OFFER SPECIAL DISCOUNTS FOR ALL FIRST HOME BUYERS!

For more information on the grant or stamp duty, please contact our office on 1800 621 071 or complete our online enquiry form by clicking here.

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Jeff Garrett

Jeff Garrett

  • Legal Practice Director
  • Direct line: 07 5506 8201
  • Mobile: 0419 304 174