*Paul*

Apr 30 2007, 04:09 PM

Found this - copied from a reliable source.

This is a fantastic bonus for settlers from overseas when buying or building their first home in Australia. The First Homeowner Grant was introduced in Queensland in 2000 to assist first time buyers getting on the property ladder as house prices spiralled upward in the property boom. The value of the grant is $7000, which is a good contribution towards the costs involved in buying. As long as you have permanent Australian residence status, plan to use the property as a principal place of residence within 12 months of purchase (or completion if building), are over 18 and have never owned a property in Australia after 1st July 2000, you should be eligible (there are a few exceptions - aren’t there always, but these are mostly related to getting financial help from a relative towards the purchase/building costs). It is worth noting that if you buy land, the grant would not be payable until you start to build at the earliest, whilst it is payable at settlement stage if you buy an existing property.

Paul.