FHOG - Delaying Move in Period till after 12 months

Hi Everyone,

I signed the contract for my first property in March 09 and settled in late May 09.

I intended to move in for 6 months and rent elsewhere so I can push on and buy another property as soon as possible.

In April 09 I got sent interstate for work which was due to finish December 09. This was fine at the time so I planned on delaying moving in till the new year which fulfills my "moving in for 6 months starting within the first 12 months". We will be going through negociations to extend my time interstate however I want to fulfil my requirements for FHOG.

I'm enjoying the career opportunity, however I don't want to repay the grant + stamp duty or do I want to do anything dodgy or risky.

I currently fly home once a month for 2 days and stay with my parents as that was, and is my current PPOR.

I'd rather delay the move in date or avoid having to do that. I'm young and I have been given an amazing opportunity with work and don't want this to hold me back. That being said I'm also eager beaver and am trying to save up for the next place.

Can any one shed any advice? My situation is legitiment and if I was living back in Sydney I'd happily live there as I'm too old to go back home and it's a nice pad. I could live there once a month but it seems like a waste.

Cheers.
 
My guess is that you'll get busted if you wait until after 12 months of signing the contract to move in.

Just grin n bear it for 6 months and pocket the 30k or so. Buy more property while you're at it.
 
I'd rent it out and go with your career move.

Another slightly different situation, but there's a lesson anyway...

Someone I know tried to move in to his place to ensure he was there for 6 months and the plan was scuppered when his tenant couldn't move out in time. By moving in too late (and it was only a couple of weeks) he had to repay the lot. He was cross to lose the FHOG but he didn't meet the criteria in the end and that is set in concrete.

In that situation, checks with the tenant were made by authorities as to the exact date they actually moved out and my friend put a move in date on his tax return that was inaccurate and that information was checked.

If your work opportunity is good then see an accountant and treat this house as an investment and stick with your work. That will mean paying back the grant.

Bottom line is the grant is meant for FHO who live in their home. Buy your first place later. There will probably be another 'first home owners' payment of some type in the future and if you don't move in at all you will be eligible then.
 
How do the figures add up if you move back in within the required time(staying for 2 days per month) and getting a boarder or 2 to assist in defraying the costs?

Cheers

Pete
 
While I'm chiming in, hear me out.

I utilised the FHOB and concessions and have just moved into the property yesterday after around 10 months since contract exchange.

I wasn't supposed to move in until 1 week after the 12 months had expired though..

To get around this, I wrote a letter to the grants office explaining my situation and they accepted. If thats any consulation.
I'm glad I didn't need to use it though because I can just see them turning around to bight me in the *** somehow in the original situation.

The grant allowed me to further my wealth to heights I'd never imagined just a few years earlier so thank you Mr Rudd! :)

I love the Australian Government.
 
You have two choices.

EITHER move in to the home within the stipulated time, OR pay back the FHOG and extra stamp duty.

Do your sums to figure out if your career move is worth more than the money you will have to repay.

Don't even think of trying to scam it. The govt department computers all talk to each other and you run a high risk of being caught out.
Marg
 
Thanks for your feedback.

I'm aware of my two 'normal' options. However I'm a engineer and the project has increased in scope and time which is yet to be determined (maybe an extra 6 months).

Just wondering if there is a way to get an extension for when I return home.

It looks as though its best to move in there for when i return home once a month or when i fly back mid week for meetings etc, at least its near my Sydney office.

As stated in my first post I have no intention of doing anything dodgy hence the point of this tread. I would have like to hear of any other FHOBs who had a similar situation and had the grant extented.

Cheers.
 
How come you guys are ignoring Investor2009, I was wondering similar things and I remember reading that you can get exemptions/exceptions made for you, just contact them and put your case forward, perhaps Investor2009 could explain the exact process he took to get the extension.
 
Top