HELP FOR FIRST HOME BUY­ERS

The Weekend Post - - News -

THE Queens­land First Home Own­ers’ Grant of­fers first home­own­ers $15,000 to­wards buy­ing or build­ing a new house, unit or town­house (val­ued at less than $750,000). You can buy off the plan or build your­self.

The State Gov­ern­ment also of­fers a stamp duty re­bate of up to $8750 if you are buy­ing an es­tab­lished home val­ued un­der $500,000 or up to $7175 if you’re buy­ing a block of va­cant land for un­der $250,000. Stamp duty is a tax paid by the buyer. The first home su­per saver (FHSS) scheme was in­tro­duced by the Aus­tralian Gov­ern­ment in the Fed­eral Bud­get 2017-18 to re­duce pres­sure on hous­ing af­ford­abil­ity.

The FHSS scheme al­lows po­ten­tial buy­ers to save money for a first home in­side a su­per­an­nu­a­tion fund. This will help first home buy­ers save faster with the con­ces­sional tax treat­ment of su­per.

You can start sav­ing by en­ter­ing into a salary sac­ri­fice ar­range­ment with your em­ployer to make vol­un­tary con­tri­bu­tions or by mak­ing vol­un­tary per­sonal su­per con­tri­bu­tions.

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