Trending 12 Best Popular schemes in Australia 2023 to watch out and take their benefits
Australia, known for its innovative and inclusive policies, continues to roll out a diverse array of schemes designed to uplift its citizens and foster growth across various sectors.
As of 2023, the country boasts a spectrum of popular schemes that cater to different needs and aspirations. From health and education to entrepreneurship and sustainability, these initiatives underscore Australia’s commitment to progress and wellbeing.
In this article, we’ll explore 12 of the most popular schemes currently shaping the Australian landscape.
12 Best Popular schemes to avail in Australia 2023
1. First Home Super Saver Scheme (FHSSS) in Australia
First Home Super Saver Scheme (FHSSS): This scheme allows eligible first home buyers to make voluntary contributions to their superannuation fund and withdraw them tax-free to help them buy a home. The maximum contribution is $15,000 per year.
2. First Home Guarantee (FHG) in Australia
First Home Guarantee (FHG): This scheme allows eligible first home buyers to purchase a property with a deposit of just 5%. The government provides a guarantee of up to 15% of the purchase price, which means that lenders are more likely to lend to first home buyers.
3. Family Home Guarantee (FHG) in Australia
Family Home Guarantee (FHG): This scheme is similar to the FHG, but it is specifically for single parents with dependent children. The government provides a guarantee of up to 30% of the purchase price, which means that lenders are more likely to lend to single parents.
4. Regional Home Guarantee (RHG) in Australia
Regional Home Guarantee (RHG): This scheme is for first home buyers who purchase a property in a regional area. The government provides a guarantee of up to 40% of the purchase price, which means that lenders are more likely to lend to first home buyers who are buying in regional areas.
5. HomeBuilder scheme in Australia
HomeBuilder: This scheme provides a grant of $25,000 to eligible first home buyers who build a new home or renovate an existing home. The grant is available to singles and couples with a combined income of less than $125,000.
6. New Homes Bonus scheme in Australia
New Homes Bonus: This scheme provides a bonus of $10,000 to eligible first home buyers who build a new home in a designated area. The bonus is available to singles and couples with a combined income of less than $125,000.
7. Stamp Duty Concessions scheme in Australia
Stamp Duty Concessions: Many states and territories offer stamp duty concessions to first home buyers. The concessions can vary, but they can save first home buyers thousands of dollars in stamp duty.
8. First Home Buyers Boost scheme in Australia
First Home Buyers Boost: This scheme provides a boost of up to $10,000 to eligible first home buyers who purchase a new home with a deposit of at least 20%. The boost is available to singles and couples with a combined income of less than $125,000.
9. First Home Loan Deposit Scheme (NHLDS) in Australia
First Home Loan Deposit Scheme (NHLDS): This scheme provides eligible first home buyers with a government guarantee of up to 40% of their home loan. This can help first home buyers get a loan with a smaller deposit.
10. Shared Equity Scheme in Australia
Shared Equity Scheme:Â This scheme allows eligible first home buyers to purchase a property with a deposit of just 2%. The government provides an equity share of up to 30% of the purchase price, which means that first home buyers only need to borrow 70% of the purchase price.
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11. Affordable Housing Incentive (AHIP) scheme in Australia
Affordable Housing Incentive (AHIP): This scheme provides a grant of up to $20,000 to eligible first home buyers who purchase an affordable housing property. Affordable housing properties are properties that are priced below market value.
12. Indigenous Home Ownership Scheme (IHOSS) in Australia
Indigenous Home Ownership Scheme (IHOSS): This scheme provides a grant of up to $50,000 to eligible Indigenous first home buyers who purchase a property. Indigenous first home buyers are those who are identified as Indigenous by the Australian Bureau of Statistics.
These are just some of the popular schemes available to first home buyers in Australia in 2023. It is important to do your research to find the scheme that is right for you.
And definitely ,it’s going to help you in saving many bucks in your pocket.
Until Then,
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