Clearing up the FHOG eligability

[Belu]

Hi all,

Thought I would post this as the same questions keeps on coming up "am I eligible for FHOG if I have bought an IP?" My thread was overtaken by people telling me I couldn’t get it and there still seems to be a miscommunication. So here it is straight from the Victorian SRO:

Hello,

What you are saying is correct. Investment properties purchased after 1 July 2000, in which has never lived in for period of greater then 6 months, it will have no affect on the First Home Owner Grant. This being the case the new FHOG Boost will apply.

Kind Regards
Rebecca Ware
Fhogvic
State Revenue Office of Victoria

This is an FYI and I hope it helps to put to rest the misconception that by having an IP bought after 2000 one is not eligible for FHOG.

Regards,

Ben

 

[Witzl]

The bigger question for those in NSW is "what about the stamp duty exemptions?"

In NSW, the FHOG is not just the [now] $14,000 payout, but it is also a total exemption from stamp duty on the purchase of a property up to $500,000.

AFAIK, if you dont claim this stamp duty exemption at purchase - you forgo your ability to claim it.

It would be interesting to clarify this fact however.


EDIT: Looks like i just answered my own question through curiosity....

http://www.osr.nsw.gov.au/benefits/first_home/general/fhplus/

an ‘eligible purchaser’ is a natural person (ie not a company or trust) at least 18 years of age who has not, and whose spouse/de facto has not:

• at any time owned (either solely or with some one else) residential property in Australia other than property owned solely as trustee or executor
• previously received an exemption or concession under First Home Plus.

... DAMMIT!!!

 

[Loki]

I bought many homes, never lived in one. All sold or rented. Still got twelve. But still get first home owner grant?? lol. Love this country.

 

[ritchie77]

So Loki, yes you get FHOG... But because you previously owned property (albeit IP) you will not get stamp duty concession....
Does this sound about right?
Ritchie