Member's Guide to ADF Pay and Conditions in Australia – see Disclaimer
– check PACMAN for full details
7.11 Home ownership assistance
The
Defence Home Ownership Assistance Scheme (DHOAS) helps you to buy your own
home. The scheme pays a subsidy on the interest of your home loan.
The
rules of the scheme are set out in the Defence
Home Ownership Assistance Scheme Act 2008. The Department of Veterans'
Affairs administers the scheme for the Department of Defence.
Who
is eligible?
You
are eligible if you have served for more than 4 years.
When is the subsidy paid?
A
subsidy is only paid when you meet a range of conditions. These include the
following.
·
You must apply and get a
subsidy certificate.
·
You must have a service credit.
·
Your home loan is made
by the National Australia Bank Limited, Australian Defence Credit Union Limited
or Defence Force Credit Union Limited.
·
The loan is secured by a
mortgage over an interest in land.
·
The loan must be used to
buy, build or renovate your home.
·
You or you and your
partner must hold a 50% (or more) interest in the land. It must be in
·
You or your family must
live in the home.
·
If you leave the ADF, you apply within two years of
the end of your service.
If you die, your partner might be
able to apply to get your subsidy.
What
can you get?
The amount you get depends on how
much you borrow and how long you have served. Some members may save up their
subsidy and use it as a lump sum payment for a first home.
When does subsidy stop?
The
subsidy will stop if any of the following things happen.
·
You pay out the loan.
·
You no longer have a service credit.
·
Your home is not built within 2 years from the day
subsidy starts to be paid.
·
You do not live in the home for at least 1 year.
·
You sell all or part of your home.
·
You do not tell DVA when your circumstances change.
·
The subsidy is cancelled.
·
You die. Subsidy may continue to be paid to your
partner.
How can I apply?
You must complete an application
for subsidy certificate form. The forms are on the Department of Veterans'
Affairs website. The website address is www.dhoas.gov.au.
More information
You can contact the Department of
Veterans' Affairs on 1300 4 DHOAS (1300 434 627) to ask questions about the
scheme. More detailed information can be found on their website.
Application to Reservists:
Yes. Reservists on Reserve service may be eligible if they do more than
20 training days a year for 8 years in a row, or a combination of Permanent and
Reserves service.
Reference:
Defence Home Ownership Assistance Scheme Act 2008
Defence Home Ownership Assistance Scheme Regulations 2008