Differences between common duty exemptions and concessions and the first home owner grant

When you buy or build your first home valued at $750,000 or less and it is the first time it is sold as residential premises.

The FHOG is not available for established homes (unless your purchase was before 1 July 2013).

The regional FHOG is available for contracts entered into on or after 1 July 2017 and no later than 30 June 2021. Homes located in regional Victoria receive a FHOG of $20,000 (as opposed to $10,000).

The contract for the transfer of the property must be entered into on or after 1 July 2017.

The contract for the transfer of the property must be entered into before
1 July 2017.

The home must be a new, not established, home.

This means a home that has not been previously occupied or sold as a place of residence or for the provision of short term accommodation, and includes a substantially renovated home and a home built to replace demolished premises.

Your home can be new or established.

Your home can be new or established.

Your home can be new or established.

It does not need to be your first home.

No

No

No

Yes

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the settlement date or the date on which your new home is completed.

Note: Certain Australian Defence Force personnel who are enrolled to vote in Victorian elections and are either on duty or leave are exempt from the residency requirement.

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the settlement date or in the case of the purchase of vacant land, within 12 months of the earlier of the date on which the construction of your new home is completed or the date that is 24 months after the settlement date.

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the settlement date or in the case of the purchase of vacant land, within 12 months of the earlier of the date on which the construction of your new home is completed or the date that is 24 months after the settlement date.

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the settlement date or in the case of the purchase of vacant land, , within 12 months of the earlier of the date on which the construction of your new home is completed or the date that is 24 months after the settlement date.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

You have 14 days to notify us and repay the FHOG.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 14 days to notify us and repay the FHOG.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You still get the FHOG if you use the property as your principal place of residence within 12 months of settlement (or completion of construction), for at least 12 continuous months.

You still get the exemption/concession if you use the property as your principal place of residence within 12 months of settlement (or in the case of the purchase of vacant land, within 12 months of the earlier of the date on which the construction of your new home is completed or the date that is 24 months after the settlement date), for at least 12 continuous months.

You still get the reduction if you use the property as your principal place of residence within 12 months of settlement (or in the case of the purchase of vacant land, within 12 months of the earlier of the date on which the construction of your new home is completed or the date that is 24 months after the settlement date), for at least 12 continuous months.

You still get the PPR concession if you use the property as your principal place of residence within 12 months of settlement (or in the case of the purchase of vacant land, within 12 months of the earlier of the date on which the construction of your  new home is completed or the date that is 24 months after the settlement date), for at least 12 continuous months.

The purchase price cannot exceed $750,000.

Exemption – the dutiable value must not exceed $600,000.

Concession – the dutiable value can exceed $600,000 but must not exceed $750,000.

The dutiable value must be more than $130,000 but not exceed $600,000.

The dutiable value must be more than $130,000 but not exceed $550,000.

Complete and lodge an application (FHOG Form 02) with the required supporting documents.

Apply using the Digital Duties Form.

Apply using the Digital Duties Form.

Apply using the Digital Duties Form.

Within 12 months of completion of the eligible transaction, which is usually the settlement date or the date on which construction of your home is completed (i.e. certificate of occupancy).

At the time the transfer is being assessed for duty.

At the time the transfer is being assessed for duty.

At the time the transfer is being assessed for duty.

Neither of you are entitled to receive the FHOG again.

This is the case even if you were not with your spouse/partner when the FHOG was previously received.

Neither of you are entitled to receive the exemption or concession again.

This is the case even if you were not with your spouse/partner when the exemption or concession was previously received.

Neither of you are entitled to receive the reduction again.

This is the case even if you were not with your spouse/partner when the reduction was previously received.

You may still be entitled to the principal place of residence concession.

Neither of you are eligible for the FHOG, even if you were not together at the time the  residential property was purchased.

Neither of you are eligible for the exemption or concession, even if you were not together at the time that the residential property was purchased.

Neither of you are eligible for the reduction, even if you were not together at the time that the residential property was purchased.

You may still be entitled to the principal place of residence concession.

You may still be entitled to the FHOG on the purchase of another home, as long as it is a new home.

You may still be entitled to the exemption or concession on the purchase of another home.

You may still be entitled to the reduction on the purchase of another home.

You may still be entitled to the principal place of residence concession.

You and your spouse/partner are not entitled to the FHOG on the purchase of another home.

You and your spouse/partner are not entitled to the exemption or concession on the purchase of another home.

You and your spouse/partner are not entitled to the reduction on the purchase of another home.

You may still be entitled to the principal place of residence concession.

No, because the purchase price exceeds $750,000.

Exemption – Yes, because the dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

No, because the purchase price exceeds $750,000.

For this reduction, the FHOG cap applied.

Yes, because the dutiable value does not exceed $550,000.

Yes, because the purchase price does not exceed $750,000 and provided the other FHOG requirements are met.

Exemption – Yes, because the dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

Yes, because the dutiable value does not exceed $600,000 and provided the other FHOG requirements are met.

Yes, because the dutiable value does not exceed $550,000.

Yes, because the purchase price does not exceed $750,000 and provided the other FHOG requirements are met.

Exemption – No, because the dutiable value exceeds $600,000.

Concession – Yes, because the dutiable value does not exceed $750,000 and provided the other FHOG requirements are met.

No, because the dutiable value exceeds $600,000.

No, because the dutiable value exceeds $550,000.

No, because the property is established and not new.

Exemption – No, because the dutiable value exceeds $600,000.

Concession – Yes, because the dutiable value does not exceed $750,000 and provided the other FHOG requirements are met.

No, because the dutiable value exceeds $600,000.

No, because the dutiable value exceeds $550,000.

No, because the property is established and not new.

Exemption – Yes, because the dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

Yes, because the dutiable value does not exceed $600,000 provided the FHOG requirements (other than the requirement to be a new home) are met.

No, because the dutiable value exceeds $550,000.

No, because  theproperty is established and not new.

Exemption - yes, because the dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession - not relevant because the exemption applies.

Yes, because the dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Yes, because the dutiable value does not exceed $550,000.