What is the DHOAS Lump Sum?
If you’ve accrued entitlement to DHOAS having completed your qualifying period, you may be eligible for a lump sum payment. You can convert up to four years of your service credit to a lump sum.
The lump sum is only calculated on the Tier 1 subsidy regardless of your eligible tier. It will also not be paid prior to the settlement of a property and therefore, cannot be used as an upfront deposit.
You’d need to cash flow your deposit in this case. The current Tier 1 subsidy is $514 (as of April 2023), making a 4-year lump sum payment worth $24,672.
To qualify for the lump sum you must not have purchased a property previously as either your primary home or an investment property.
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