Definition of living?

[fokas]

Here I was opening this thread and expecting a philosophical discussion on existence.

Me too!
Bit dissapointing really...

ETA: I can't believe how many people are encouraging newbs to be dodgy! Where's the honesty? Tisk tisk.

We get a free meal and people are encouraging us to try and steal the plate as well...Poor form imo.

 

[stargazer]

Hi

Why not just be honest and accept that its a gift and not to try and be too clever.

No wonder government hand outs with good intentions are manipulated by people for their own ends.

Karma always gets you in the end.

cheers
BC

 

[Sunfish]

And Breaker Morant wasn't a truckin' movie. Bummer.

And yes, I expected some navel gazing.

 

[Sunfish]

So my question is - do i have to physically live in the house for the mandatory 6 months or is there another way around it?

Apart from lying to the Gov, do you lie to the bank about rent received? Six months' vacancy will cost you more'n the (extra) FHOG, which may not be a coincedence.

 

[Zeddy]

Apart from lying to the Gov, do you lie to the bank about rent received? Six months' vacancy will cost you more'n the (extra) FHOG, which may not be a coincedence.

How so? For the equivalent of the $14k grant, you'd have to have a rental income of around $580 per week.

If you mean the $7k grant, the rental would have to be $290 per week. Fairly solid still.

I guess that's not taking into account tax benefits on investment loans though.

 

[natmarie73]

Wouldn't this part have to be under the table?
I mean cash-wise, please don't make your mates sleep under the table.

I thought if you make it partly a rental you could only get part of the FHOG.

I don't think that having your mates live with you in your house in return for a cash donation each week is the same as renting it out. Isn't it just the same as stay at home children paying their parents board? Surely the ATO doesn't expect that if mum and dad charge their adult children board they have to declare it as income or that it would affect the CG tax status of their house.

 

[willair]

I am young guy living with parents, going through uni and working full time. Recently i've decided to buy a house using the FHBG - but i want to live at home so I don't have to buy furniture and food etc (i'm paying board at home at the moment).

So my question is - do i have to physically live in the house for the mandatory 6 months or is there another way around it?

............
There would be several ways around the problem,but why even try as the others have already said,if you are that worried about food and furniture,then don't use the FHBG,just buy the property and become a property investors,and let the ATO pay for your running costs,maybe i think different i though it was in place for people with kids to get a start in life and own their own home, you seem to want it both ways,live at home-then at the same time get a free ride with the FHBG and hide it all
from the ATO,I know how the ATO works ,just have the guts to consider the silent consequences and "POWER" they have,before you start off as a snake-oil-humanitarian, you may think i'm hard but the day the taxmen walk in your door,they will know more about you then you know about yourself, imho....willair..

 

[WinstonWolfe]

The question the Qld Office of State Revenue asks is:

Will all applicants occupy the home as their principal place of residence for a continuous period of at least six months, commencing within one year after completion* of the eligible transaction?

It is a straight forward matter to determine whether a property is your PPR.
It is not a straight forward matter to determine that you occupied the PPR.

i.e.
Many jobs/self employed require a degree of travel - defence forces deployed overseas, mining industry employees, seasonal fruit pickers, traveling salesmen, professional athletes, ship's crew, locum relief staff etc, etc.

Many of these people can legitimately be away from home for months at a time, so that over a 6 mth period, they may spend no more than 3 weekends at home - or no time at all in the case of soldiers deployed to Afghanistan or Timor.

If someone decides to go on a 3 mth overseas holiday, that drags out to 6mths, your PPR is still your PPR. You don't have an alternative PPR.

 

[mystery]

So my question is - do i have to physically live in the house for the mandatory 6 months or is there another way around it?

If you go ahead with the deception, you'd better hope that an ATO staffer isn't a member of SS forum and is reading this thread.

Do it legally and you'll have a clear conscience.

Martin ....

 

[nellyei]

thanks for the replies - most of you seem to against the idea of avoiding the 6 months of living - but then berate me for trying to avoid it, without trying to understand my circumstances.

The problem is that due to work, i arrive at home at around 9-10pm, and leave for work about 7am! so taking this into account - my neighbours will start to think i don't even live in my house.

i want to enter the property market primarily because of the grant and as mentioned no rental retun (within my price range) will get me such a bonus.

so from the looks of it, i will probably just bite the bullet and stay in the house...

 

[boomtown]

The problem is that due to work, i arrive at home at around 9-10pm, and leave for work about 7am! so taking this into account - my neighbours will start to think i don't even live in my house.

Sorry mate that doesnt make you unusual

 

[Roadrunner]

The problem is that due to work, i arrive at home at around 9-10pm, and leave for work about 7am! so taking this into account - my neighbours will start to think i don't even live in my house.

That sounds like situation normal at my place most days.

 

[Rolf Latham]

Buy why buy a house for owner occ if you arent going to occupy it ?

What am I missing ?

ta
rolf

 

[marg4000]

Probably FHOG.
Marg

 

[Mom]

Just recently, a friend, recipient of FHOG got audited and had to provide: 6months of the followings: Electricity statements, rate notice, phone rec, water bills etc. They have not come back yet, but my friend move out of the ppty after 7 months living in it, before renting the property out.

So, wathever you do, don't take the grant warning for granted. You might get caught and youll have topay the grant plus fines and interest.

 

[HandyAndy888]

Here I was opening this thread and expecting a philosophical discussion on existence.

Me too, me too...

 

[Tash_85]

I am in the same situation. I would not rent it out as i have also heard ppl are getting fined and that is just not worth it. At the end of the day though, if its your primary residence and your not there most of the time then I dont see why it would matter if the place was empty. If your not making a profit during the 6 months why cant the place be empty, if all bills are sent to that address.

 

[Wiseguy]

i believe the OSR also checks the rental bond board. so beware

you can rent it to me for $50/wk

 

[DavidMc]

The problem is that due to work, i arrive at home at around 9-10pm, and leave for work about 7am! so taking this into account - my neighbours will start to think i don't even live in my house.

Contrary to other posters, I think this is 'not normal' and you should address it. I'd be moving closer to work or change jobs ASAP.

I lived 1h20m away each way that was over 13h driving per week.

I moved much closer and went to the gym with all my reclaimed time. Made a huge difference.

 

[DavidMc]

Also don't cheat the grant. You can still be very successful doing everything legitimately and ethically (tax returns and business deals included). There is a good chance they'll catch you anyway.