I read some comments in the AFR that said that there was debate about extending the $14K/$10K FHOG for new homes beyond the current June 30 finish, but that the $7K FHOG was always intended to be an ongoing thing.
Something about offsetting GST, which I didn't really understand, as it is the new homes which attract GST, not the existing ones. It was only a sidebar comment, so no real details were given.
On 4/26/02 10:52:00 PM, Geoff Whitfield wrote:
>My understanding of the FHOG
>was that $7K was always
>available- but the additional
>$7K (no reduced to $3K extra)
>was only available for newly
>built homes- thus the GST
Yup, I got that bit Geoff, it's the ongoing payments where the questions arise. Will the $7K FHOG continue indefinitely ? And if so why ? Certainly not to offset GST - as GST does not apply on existing homes ?