Good morning people,
New to the Canberra property market and is planning to bid on a property on the coming Saturday. Though I do have a few questions that I hope you guys can shed some light on.
The property will be my PPOR, but on the contract it will have my name (never owned a property before) and my mums (as she is financing part of the property). My mum already have her name on a PPOR with my dad in Sydney. I was wondering if the property contract is signed with both my mum's and my name on it, would I still be applicable for FHOG?
Are there any implications for having my mums name on two properties (both been PPOR)?
I was told by someone over the weekend that if you buy a PPOR in Canberra, you do not have to pay stamp duty? Is this true?
Also from this forum I read that stamp duty is tax deductable. Because I plan for this property to be an investment in 3 years time when I move out of Canberra, would the stamp duty (if payable) be deductable then? If not, and stamp duty is payable now, would it make more sense to buy the property as an Investment and for go the FHOG (if I can get it with my mum's and my name on the contract).
Sorry about all the questions! Thanks in advance for any advise and insight.
New to the Canberra property market and is planning to bid on a property on the coming Saturday. Though I do have a few questions that I hope you guys can shed some light on.
The property will be my PPOR, but on the contract it will have my name (never owned a property before) and my mums (as she is financing part of the property). My mum already have her name on a PPOR with my dad in Sydney. I was wondering if the property contract is signed with both my mum's and my name on it, would I still be applicable for FHOG?
Are there any implications for having my mums name on two properties (both been PPOR)?
I was told by someone over the weekend that if you buy a PPOR in Canberra, you do not have to pay stamp duty? Is this true?
Also from this forum I read that stamp duty is tax deductable. Because I plan for this property to be an investment in 3 years time when I move out of Canberra, would the stamp duty (if payable) be deductable then? If not, and stamp duty is payable now, would it make more sense to buy the property as an Investment and for go the FHOG (if I can get it with my mum's and my name on the contract).
Sorry about all the questions! Thanks in advance for any advise and insight.