21 October 2008

Kiwis taking the $14,000 bait to move to Australia

Following last week's announcement from the Rudd Government that first-homebuyers will receive $14,000 to help with the purchase, New Zealanders will have even more reason to jump the ditch to Australia, reports the NZ Herald.

New Zealanders can migrate to Australia without a visa for Australia and easily gain permanent residency or Australian citizenship.  Once granted residency or citizenship, New Zealanders are entitled to the Australian first-homebuyers supplement of $14,000, so long as they meet certain criteria.

Australians who fulfil the same criteria have traditionally received a payment of $7,000, but in an attempt to increase consumer spending and keep the construction and housing industry buoyant, the government doubled the grant, while those who are buying brand new homes will receive $21,000 in assistance. 

Dennis Ring, managing director of Over 50s Resorts in Queensland, said since the grant increase last week over 200 Kiwis had inquired about buying property in his resort village.

"I've been inundated with people on my website asking about these Over 50s Resorts and number one is, 'Can we get the first-home owner's grant?' And yes they can," Mr Ring told the news provider.

Some states will still charge a stamp duty, or tax, on the purchase of a home, which may offset the assistance grant; however, as in Queensland earlier this year, states are also abolishing the regulation.

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The Australian Visa Bureau is an independent consulting company specialising in helping people with their Australian visa application.

Article by Jessica Bird, Australian Visa Bureau.