In Australia, most of the first home buyers are eligible for some allowance, especially for those who buy a off-plan property. First home allowance varies from state to state in Australia.
1. Australian citizen or permanent resident
2. Buyer has not purchased any properties in Australia previously
3. Must be a new-established property
4. Cannot be under the name of a company
5. Must live in the house for 6 months consecutively in the first year of purchase
6. Must apply within 12 months after transaction
7. Applicant can only apply once for one property
What is stamp duty reduction policy?
Many new immigrants are aware of first home buyer allowance. Policies update every year. Stamp duty reduction is one of them.