Yesterday, the treasurer has announced in the Federal Budget that
- Until 30 September 2009, first home owners will get the existing $21,000 for new homes and $14,000 for existing homes.
- Between 30 September 2009 and 31 December 2009, first home owners will get $14,000 for new homes and $10,500 for existing homes.
- After 31 December 2009, first home owners will continue to get the reduced amount of $7,000 for new or existing homes.
The idea would be to slowly remove the first home owner "boost" without shocking the system.
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