FHOG question

[Robbiep]

Hi guys.

I have a questions regarding the First Home Owners grant.

Lets say that I’m currently leasing a property until Oct 2013. The property I’m looking at buying currently has a tenant in the property until September 2013.

If had to purchase the property today, keep the tenants in the property until their lease expires (Sept 2013)and move into my property when my lease expires (Oct 2013), would I still be entitled to FHOG?

Obviously i would be able to prove the above with lease agreements.

Also, what is the current FHOG amount, $5,000?

Cheers,
Robbie

 

[Terry_w]

I'd suggest you look up the FHOG Act in the state in which you wish to purchase. In some states you must live in the property for 6 months within the first 12 months.

 

[Aaron_C]

FHOG amount is $7,000

 

[Peter_Tersteeg]

The requirement of the FHOG is that you move in within 12 months of purchase and live there for at least 6 months.

The reason you have up to 12 months to move in is so you're not put in a position where you have to break the lease. Just make sure you give the tenant appropriate notice to vacate before the lease expires. You still get the grant at settlement.

 

[Robbiep]

Thanks guys!

Silly question... are checks every done to see if you actually moved into the property within the first 12 months (and not just kept it as an IP)?

Not like i would every consider breaking any rules, but just asked for an interests sake

 

[Peter_Tersteeg]

I believe they check thinks like utilities and electoral roles.

 

[Propertunity]

Silly question... are checks every done to see if you actually moved into the property within the first 12 months (and not just kept it as an IP)?

Yes, checks are done. You'd better believe that they will check and they will catch you if you do the wrong thing.

Plenty of rorters get caught.
http://www.heraldsun.com.au/news/vi...home-owner-grant/story-fn7x8me2-1226408954237
....and more.

 

[Terry_w]

Thanks guys!

Silly question... are checks every done to see if you actually moved into the property within the first 12 months (and not just kept it as an IP)?

Not like i would every consider breaking any rules, but just asked for an interests sake

Yes. People are audited and asked to provide evidence that they have lived in the property.

 

[Robbiep]

Not like i would every consider breaking any rules, but just asked for an interests sake

Just wanted to re-iterate the above.

 

[Aulyna]

With in the 6 months, you can still rent out other spare bedrooms, can you?

 

[Peter_Tersteeg]

With in the 6 months, you can still rent out other spare bedrooms, can you?

You have to live there. There's no reason you can't have a few 'friends 'live with you and collect rent from them.

 

[Ed Barton]

You have to live there. There's no reason you can't have a few 'friends 'live with you and collect rent from them.

I would check with the authorities. I recall an article about someone who got the fhog and lived there but rented out a room. He got busted because he lodged a bond and had to repay the grant.