WA first home owners grant cut


WA first home owners grant cut
  1. WA first home owners grant cut
    donnybrookmail.com.au
    WA's first homeowner grant for new homes will be slashed after the state government announced plans to bail out of its temporary boost payment scheme earlier than…
    Western Australia

WA's first homeowner grant for new homes will be slashed after the state government announced plans to bail out of its temporary boost payment scheme earlier than scheduled.

The WA state government has reduced the First Home Owner Grant back to $10,000. Photo: Pat Scala

WA's first homeowner grant for new homes will be slashed after the state government announced plans to bail out of its temporary boost payment scheme earlier than scheduled. 

The payment will drop from $15,000 back to $10,000, and the changes will come into effect on June 30, 2017, six months after the former Barnett government announced the incentive. 

Treasurer Ben Wyatt said despite the boost being scheduled to cease at the end of the year, the state's dwindling finances meant it had to be cut short. 

"Ceasing the boost early will allow the State Government to fund higher priority areas while ensuring Western Australian first home buyers continue to be eligible for generous Government assistance," he said. 

"This action represents another $20 million saved over the forward estimates.  It's another step towards budget repair."

Treasury estimated the reduction in the grant…