First Home Owner Grant (New Home) Scheme compliance for banks/financial institutions

Grant of $10,000 from 1 January 2016 for eligible transactions.

Administered under the First Home Owner Grant (New Home) Act 2000

Ensure your processes are up to date

Recent compliance activity identified the following errors made by banks and financial institutes when lodging applications for customers for the First Home Owner Grant (New Homes) scheme.

• Include both a contact phone number and email address for all applicants (home buyer or builder).
• If you have an applicant with only one name, include this name in both the first name and last name fields.
• Ensure all required proof of identity documents along with the correct documents for the transaction type are provided.
• When a settlement falls through and you contact Revenue NSW for an extension ensure you provide a reason for the request.
• If you are paying back the grant to our Office, ensure you provide notes in fhogsOnline and advise Revenue NSW of your actions.
• When an applicant’s ‘substantial renovation’ is suspended ensure you advise Revenue NSW the suspension has occurred.

Contact us

Email:  [email protected]

Postal address:  GPO Box 4087, Sydney NSW 2001