{"id":148609,"date":"2016-06-14T20:23:01","date_gmt":"2016-06-14T10:23:01","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=148609"},"modified":"2020-10-12T16:21:06","modified_gmt":"2020-10-12T06:21:06","slug":"extra-5000-for-first-home-buyers","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/06\/14\/extra-5000-for-first-home-buyers\/","title":{"rendered":"Extra $5000 For First Home Buyers"},"content":{"rendered":"
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Queensland Treasurer Curtis Pitt<\/figcaption><\/figure>\n

June 14, 2016<\/strong><\/p>\n

First home buyers will receive an extra $5000 from the State Government over the next 12 months.<\/p>\n

Treasurer Curtis Pitt announced in Tuesday’s State Budget that the First Home Owners’ Grant will expand from $15,000 to $20,000 next financial year.<\/p>\n

But it will only apply to newly constructed homes valued at less than $750,000.<\/p>\n

Mr Pitt said the $5000 boost would go towards helping young Queenslanders reach the 10 per cent deposit needed for properties.<\/p>\n

“This doesn\u2019t just mean more Queenslanders in new homes, it also means more jobs for our building industry,” Mr Pitt said.<\/p>\n

The $40 million cost over two years will be offset by the introduction of a 3 per cent stamp duty tax on foreign investment in residential property from October 1.<\/p>\n

This will produce an estimated $90 million in revenues over the coming four years.<\/p>\n

The increase in the grant was welcomed by the Master Builders Association, who believe it will provide a boost for the building industry, particularly in regional areas.<\/p>\n

It was also welcomed by First Home Buyers Australia, who said they thought it was a win for first home buyers, though they would like to see the increase last longer than 12 months.<\/p>\n

The new First Home Owners\u2019 grant will apply from July 1.<\/p>\n

Budget Wrap-Up:<\/strong><\/p>\n