FHBG & PPR Stamp Duty concession

[Bayside]

Any first home buyers here claimed the FHBG & PPR Stamp Duty Concession in Victoria? I have purchased my first house and I have claimed the FHBG, I need to live in the House now for 6 months before I can move back home and turn the Property into a I.P

Just filling out the PPR Concession Stat Dec now and i've noticed you need to live in the PPR for 12 months to claim the Stamp Duty relief

Has anyone here claimed the Stamp Duty relief and moved out before the 12 months are up? Do they check up on you?

On the form it says if you become aware that the residence requirement will not be met you need to advise the Commissioner at the State Revenue office of the circumstances within 30 days in writing.
Do you have to pay the money back or a percentage of it?

Thanks

 

[Bradsdad]

Any first home buyers here claimed the FHBG & PPR Stamp Duty Concession in Victoria? I have purchased my first house and I have claimed the FHBG, I need to live in the House now for 6 months before I can move back home and turn the Property into a I.P

Just filling out the PPR Concession Stat Dec now and i've noticed you need to live in the PPR for 12 months to claim the Stamp Duty relief

Has anyone here claimed the Stamp Duty relief and moved out before the 12 months are up? Do they check up on you?

On the form it says if you become aware that the residence requirement will not be met you need to advise the Commissioner at the State Revenue office of the circumstances within 30 days in writing.
Do you have to pay the money back or a percentage of it?

Thanks

The question is are you signing a declaration that is providing false information?
Not sure of about the last highlighted part but would suggest it would be the full amount PLUS a penalty if you misled them.


Regards
Steve

 

[Bayside]

ok thanks, I want to do things above board. Just checking what the penalty is