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How To Turn Your Tax Return Into A Home Deposit.

Published: June 27th, 2018

Tax time is like a mid-year Christmas for many Australians, with gifts coming in the form of a tax return from the Australian Tax Office. We know how exciting it can be to get a boost to your bank account but we also know how easy it can be to blow it.  Recently, more and more young Aussies are leveraging their tax returns to build their first home and set themselves up for the future, without sacrificing the luxuries they are used to. And here’s how you can too!

1. Got $3000? Get building your first home!

Don’t empty your savings account, hold onto your EOFY gift from the Australian Tax Office for 3 months and use it as a deposit for your dream home! There are so many house and land packages available for first home owners from Eglington to Wellard and beyond. If it’s the finance side that scares you, it shouldn’t. Our experts in first home finance (V Home Loans) will detail your options for you so that you can get started on your home ownership journey with just $3000 a lot quicker! All you gotta do is ask (here)

2. Think you can’t afford it?

Think again! The Western Australian Government offers a whopping $10,000 to eligible first home owners as a First Home Owners Grant which can be used to get your dream home! There are a range of options available to First Home Owners which may let you hang on to most of your savings and still get your own home! If you’re not sure where to begin, we will handle it. Aussie Living Homes are pro’s in uncovering whether you qualify for any available grants. Find out more here.

3. Need assistance? We got you!

Okay, so maybe you didn’t get as much tax back as you hoped, we can still help. WA offers low deposit options like Keystart Home Loans which may still assist you into your first home!  If eligible, there are a bunch of perks that come with Keystart like only requiring a 2% deposit (1% being genuine savings.) So, don’t stress if you were disappointed this tax time, click here to see if you qualify for Keystart!

4. Not ready just yet? No problem.

Dedicating a separate bank account for your tax return each year is a trending choice for first home buyers. Think about it, a bank account building itself with each tax return so when you are ready for home ownership you should have a deposit and some more ready and waiting!

There is no better time to consider setting up your future than tax return time! There are so many options available to help leverage your tax return without sacrificing holidays and lifestyle. So, will you be joining more and more West Australians this year and turning your tax return into a home deposit? Get your journey started with Aussie Living Homes.


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