I'm pretty sure that I hear on the news about 2 days ago that the $7,000 grant has been extended indefinitely. Has anyone heard anything to the contrary?
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.
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 offset.
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
>offset.
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 ?
The $7K FHOG has been available long before GST. So there's not a need related to GST to stop it.
I suspect the government has seen the extension to the FHOG as a good way to stimulate the economy when things were slower, and may be reluctant to lose that stimulus for now.