What Is it?
Who Can Get it?
The Home Purchase Assistance Scheme (HPAS) is a one-off payment to help you buy your first home as a member. You can use it to buy an existing home or to build one:
- buy a home in your new (after getting your posting order) or current location
- will be in that location for at least 12 months after signing the contract
- occupy the home within the required time limit
If you live away from your family for Service reasons (MWDU), you may buy a home where they live. They need to live in the home for at least 12 months and you must maintain your MWDU categorisation.
How Much Money Do I Get?
The HPAS Entitlement is $16,949. It is taxable and will be reported in your income tax.
If you buy a home with someone who’s not a dependant recognised by Defence, you’ll only get a percentage of this amount.
You may need to repay the HPAS if the sale doesn’t go ahead. If Service reasons prevented you from buying the home, you may be able to claim reasonable costs.
If you are doing a house and land package and the land registration isn’t for another 4 months, you may be able to receive HPAS before you are required to pay your deposit which can be a HUGE advantage for you!
How Do I Get It?
HPAS can take up to 16 weeks to process. You will have to complete an Application for Home Purchase Assistance Scheme or Home Purchase or Sale Expenses Allowance (AC970) form. this is accessible from the Defence Protected Network (DPN).
There is other supporting documents that you will also need.
- posting order
- copy of the signed and dated contract
- a copy of your approved Categorisation Change and Application to Live In/Live Out – ADF (AE681) form
For more guidance please contact Strike Property for more details.