First Home Buyers
Getting caught up in the excitement of purchasing your first home, you may not be aware of your state taxation obligations and entitlements. It is important to know what these are to ensure that you budget for any taxation liabilities and don’t get caught out with any unexpected taxes or levies. Ask your local Finsure Advisor for more information.
The federal government’s First Home Owner’s Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation.
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