The 2014-15 Northern Territory Budget was handed down on Tues 13.5.2014. The NT Treasurer announced that from 13 May 2014, the First Home Owner Grant will be increased to $26,000 (from $25,000) for first homebuyers purchasing or building a new home. The $600,000 value cap will also be removed. From 1 January 2015, the Grant will be directed to new homes only, and the scheme for existing homes will cease from that date.
Budget Bill introduced – The Treasury Legislation Amendment Bill 2014 (NT) was introduced into the NT Legislative Assembly on Tues 13.5.2014. The Bill proposes to implement the above Budget proposal.
[LTN 87, 14/5/14]