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First home buyers (FHBs) in Tasmania will receive three times the financial support for new homes after a bill was passed through the State Parliament.
The Tasmanian government has tripled its First Home Owner Grant for new homes, passing a bill through parliament, delivering on a key election commitment.
The Taxation and Related Legislation Bill will triple the amount that first-time purchasers can receive when buying or building a new home, from $10,000 to $30,000.
The state government has defined a new home as a property that has not previously been occupied or sold as a place of residence, including kit homes.
The change was designed to help more people enter the housing market, with REA data showing Hobart’s median house price sat at $985,250 and units cost an average of $927,500 as of November.
The grant can be used in conjunction with the federal government’s first-time buyer initiatives, including the First Home Guarantee deposit scheme, the First Home Super Saver Scheme (FHSSS), and the Help to Buy program.
The bill will additionally extend the apprentice payroll tax rebate for businesses employing the next generation of tradespeople for 12 months.
Treasurer Eric Abetz said the change would support jobs and address housing supply by building more homes and supporting the next generation of builders.
"This Liberal government is delivering for Tasmanians – we have proudly delivered on this commitment, which will make it cheaper for Tasmanians to build their own home, stimulate the construction industry and increase the housing supply,” he said.
He said that the scheme was aimed at assisting many more Tasmanians into home ownership, and upskilling and continuing to train the local workforce.
"Through this bill we are acting to address both supply and ensuring that our apprentices are given every support to become fully qualified tradies,” he concluded.
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