Home Owners Incentives Northern Territory
In the Northern Territory, the FHOG scheme was introduced on 1 July 2000 to assist first homebuyers. To encourage the construction of new homes in the Territory, from 1 January 2015, FHOG will only be available to first homebuyers who enter into a contract to construct or purchase a new home, or commence construction of a new home, on or after that date.
While the grant is not means tested, some purchase price thresholds may apply. Where the commencement date of the eligible transaction is between 1 January 2010 and 12 May 2014, to remain eligible the consideration for, or the value of the home must be under the transaction eligibility threshold (see table below). This includes the unencumbered value of the land on which a home is to be built.
Where the commencement date of the eligible transaction is on or after 13 May 2014, the transaction eligibility threshold does not apply to the construction or purchase of a new home but continues to apply to the purchase of an established home.
An established home is one that has been previously sold or occupied, and is lawfully fit for occupation.
A new home is one that has never been previously lived in or sold as a place of residence. To prevent anomalies, discretion applies in limited circumstances to declare a home that has been previously sold, but not occupied, to be a new home. For more information, visit this page.