Brad & Robyn's Caravan Trips & Tips

The Federal Government has extended the First Home Owners Grant Scheme Boost for six
months from 1 July 2009 to 31 December 2009.

Note: The Federal Government’s First Home Owners Grant of $7,000 will continue.

What you need to know:

* For established homes, customers must enter into the contract no later than 30 September 2009 to receive the $7,000; customers entering into a contract from 1 October 2009 – 31 December 2009 will receive a $3,500 boost payment
* For new homes, customers must enter into the contract no later than 30 September 2009 to receive the $14,000 and customers entering into a contract from 1 October 2009 – 31 December 2009 will receive a $7,000 boost payment.

There are two eligible transactions under the new home scenario:

* For construction loans where a building contract has been signed, building must commence within 26 weeks and the construction must be completed within 18 months.
* For off the plan purchases the contract must be signed on or before 30 September 2009 to receive the $14,000, on or before 31 December 2009 to receive the $7,000. Construction work must be completed on or before 31 March 2011.