Confirmation of occupancy for FHOG approval

[Mofra]

Howdy,

Hve been crunching some numbers, it appears that by obtaining the $10k FHOG & living in the sort of ppties I am looking to purchase for 6 months, I will be roughly $4-4.5k better off after tax.

Just wondering if anyone knows:

a. The lengths a FHOG recipient has to go to to prove they are occupying the premises

b. If there are any reporting requirments once you move out of the property & convert it to an Investment ppty.

Thanks in advance

 

[kingchevy]

You only have to live in the property for 6months and no there is no paper work or people you need to tell or explain you're self too I think the only way you will get caught is if you get audited.

 

[Mofra]

Well I'm certainly not going to be silly enough to make claims on expences within the first six months, so should be safe.

I am looking forward to buying somewhere inner-city to have a "party pad" for the summer, paint & repair, then refinance 6 months down the track by buying another small 1 bedroom yield play (anything around the 5.5%+ yield mark) given there seem to be quite a few avaialble ATM.