Australian Capital Territory
First Home Owner Grant (Amount) Determination 2016 (No 1)
Disallowable instrument DI2016–306
made under the  
First Home Owner Grant Act 2000, section 18 (1) (b) (Amount of grant)
EXPLANATORY STATEMENT

The purpose of this instrument is to implement the second instalment of the decision announced in the 2015‑16 Budget to decrease the First Home Owner Grant in two instalments:
•	a decrease from $12,500 to $10,000 on 1 January 2016; and
•	a decrease from $10,000 to $7,000 on 1 January 2017.

The First Home Owner Grant Amendment Act 2015, which commenced on 1 January 2016, amended the First Home Owner Grant Act 2000 (the Act) to allow the Minister to determine the amount of a grant by disallowable instrument.

This instrument implements the new initiative to determine that the amount of the grant is the lesser of $7,000, or the consideration for the eligible transaction, under section 18 (1) of the Act. 

This instrument revokes the First Home Owner Grant (Amount) Determination 2015 (No 1) DI2015-247 (effective 1 January 2016) which determined a grant amount of $10,000. 

DI2015-247 continues to apply to eligible transactions with a commencement date in the period 1 January 2016 to 31 December 2016, inclusive. The terms eligible transaction and commencement date are defined in section 13 of the Act.

Authorised by the Treasurer
Andrew Barr MLA