FHOG & Stamp Duty scenarios

I've been asked a number of FHOG questions from friends etc but cant seem to find an answer. Here goes:

1. If someone in NSW, purchases an investment for their first property, are they able to apply for FHOG + stamp duty exemption when they purchase their PPOR at a later date?

2. If they've purchase an investment, and 1-2 months into ownership they arent able to rent out the property, are they then able to claim back the stamp duty exemption if they decide to move in (as though they purchased as PPOR intiially)?

3. If someone was a guarantor (and still is) for a relative's mortgage, but not on the title, are they entitled to FHOG + SD exemption?

Thanks in advance! :)
 
Hiya Wise[

QUOTE=Wiseguy]I've been asked a number of FHOG questions from friends etc but cant seem to find an answer. Here goes:

1. If someone in NSW, purchases an investment for their first property, are they able to apply for FHOG + stamp duty exemption when they purchase their PPOR at a later date?

I believe they are still entitled to the FHOG BUT not the exemption, Tere were some changes in legislation late last financial year on a state level.


2. If they've purchase an investment, and 1-2 months into ownership they arent able to rent out the property, are they then able to claim back the stamp duty exemption if they decide to move in (as though they purchased as PPOR intiially)?

No, because in my view they dont qualify for it in the first place.


3. If someone was a guarantor (and still is) for a relative's mortgage, but not on the title, are they entitled to FHOG + SD exemption?

Firstly, good luck for getting a lender to get that done
If they were never on title and had no derived interest they would be entitled. The old Exemptions act even had an inclusion where if someone was on title mainly for guarantee reasons they would still be entitled to the exemption.

Best thing is to get ruling from the OSR in writing and let them know you are acting on their advice.

ta

rolf



Thanks in advance! :)[/QUOTE]
 
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