Granny Flat Arrangements
Currently, the creation of a formal arrangement where money is provided to a homeowner to build a granny flat with the proviso that the person providing the money has a right of occupancy in the flat, with a return of money when the residence is sold, can cause a Capital gains tax event for the home owner with no exemptions or discount.
A specific Capital gains tax exemption will be provided in such circumstances. This will provide certainty to home owners and certainty to vulnerable older people who will receive certainty of tenure.
In Queensland, first homeowners receive a concessional rate of stamp duty on homes worth up to $550,000. This concession is applied by deducting a set amount from the usual rate of stamp duty that would apply to owner/occupiers. 
This means that you will effectively pay no stamp duty if you are buying a first home worth less than $500,000, with a concessional rate applying to home valued between $500,000 and $550,000.
First Home Buyers
In Queensland, first homeowners receive a concessional rate of stamp duty on homes worth up to $550,000. This concession is applied by deducting a set amount from the usual rate of stamp duty that would apply to owner/occupiers.
This means that you will effectively pay no stamp duty if you are buying a first home worth less than $500,000, with a concessional rate applying to home valued between $500,000 and $550,000.
If you are buying vacant land, you will also receive similar benefits, which mean that you’ll pay no stamp duty on land valued up to $250,000. A concessional rate applies to land valued between $250,000 and $400,000.
What is the amount of the first home buyers grant in Queensland?
The amount of the first home buyers grant in Queensland depends on when you signed the building contract: For a home to be considered new, the Office of State Revenue will need confirmation that the property has not been previously lived in, has not been previously sold as a place of residence and can be a substantially renovated home.
What are the rules for first homeowners in Queensland?
There are a few rules when applying for the first homeowners grant in Queensland that you and your partner or spouse needs to meet. The most important qualifying rule for the first homeowners grant is that you have never owned a property or a part of a property in your personal name in Australia before.
What is the value of a first home in Queensland?
The value of your first home including the land, must be below $750,000. The FHOG in QLD is available if you buy off the plan, but you may also be eligible for the FHOG if you buy an established home that has been substantially renovated. This means all, or most, of the building has been removed or replaced.
In addition, you may be eligible for the Australian Government | Economic Response to the Coronavirus, COVID-19 has introduced a $25K Stimulus will assist the residential construction market by encouraging the commencement of new home builds or renovations from the 4th June to 31st December 2020.
The team at Direct Portable Buildings are available to assist you to design your dream home to suit your family requirements.
Eligibility | to access HomeBuilder, owner-occupiers must meet the following eligibility criteria:
- You are a natural person (not a company or trust)
- You are aged 18 years or older
- You are an Australian citizen
- You meet one of the following two income caps
- $125,000 per annum for an individual applicant based on your 2018-19 taxable income or later; or
- $200,000 per annum for a couple based on both 2018-19 taxable income and later
- You enter into a building contract between 4 June 2020 and 31 December 2020 to either:
- build a new home as a principal place of residence, where the property value does not exceed $750,000; or
- substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property (house and land) does not exceed $1.5 million (pre-renovation)
- Construction must commence on or after 4 June 2020 and within three months of the contract Development Approval
We have provided the link to the Australian Government Homebuilder ‘Fact Sheet’ below for review. Note | It is expected that an online application form will be available in early August.
Regional home building boost grant
The regional home building boost grant is a state government initiative to help homeowners in regional Queensland into their new home sooner. It will give you $5,000 after the purchase or construction of a brand-new house, unit or townhouse valued at less than $750,000.
Regional Queensland areas of | Cairns; Central Queensland’ Darling Downs Maranoa; Mackay0Isaac-Whitsunday; Queensland outback; Toowoomba; Townsville; Wide Bay.
Direct Portable Buildings have numerous designs to choose from to meet your needs. There have a number of designs available our website www.directportablebuildings.com.au where you will discover building designs available from 1 Bedroom up to 5 Bedroom homes or let us design your new home to suit your requirements.
The team at Direct Portable Buildings are available to assist you with design and installation and can be contacted on 1300 156 667 or email enquiries@directportablebuldings.com.au
Link 1 | Fact Sheet | Home Builder Eligibility
https://treasury.gov.au/sites/default/files/2020-06/Fact_sheet_HomeBuilder.pdf
Link 2 | Fact Sheet | Queensland First Homeowners’ Grant
https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/qld-first-home-grant
Link 3 | Fact Sheet | Regional home building boost grant
