As the new tax year commenced on July 1st, 2024, securing a spot in the First Home, Regional, or Family Guarantee Schemes requires meeting certain eligibility criteria, including the taxable income earned in the previous financial year, from July 1st 2023, to June 30th 2024.
The amount of taxable income is recorded on your notice of assessment (NOA), issued by the Australian Tax Office (ATO) once you have filed your tax return. The current processing time frame to obtain your NOA is 6-10 business days.
To apply for the Schemes, our Queensland First Home Buyer Members must meet the following income criteria:
Joint Applicants need to be under $200,000 (combined incomed)
Single Applicants need to be under $125,000
Note - There are other criteria's applicable for the schemes. If you want to know more or would like the information pack sent out to you, please use the 'contact us'
