FHOG & Stamp Duty?

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From: Anonymous


Hi All,

Just about to change homes and wondering
if I can do the following :

Buy my next home in my son names
(over 18) and claim the FHOG and stamp duty exception

On a 300 K purchase. that would add up to

FHOG $7,000
Stamp duty 14,000
Total savings $21,000

Okay the house will be in my sons name, but I should still should be able to finance
to pull out equity, by being the co- signer on the loans any way.

Feed back please ?

Regards

Pete Townsend

 

[Anonymous]

Aggressive use of FHOG ?

Reply: 1
From: Anonymous


In NSW under the 'Home Plus' scheme the stamp duty exemptions for your first home operates on a sliding scale from 200k to 300k in Metropolitan areas.

i.e. on a 300k property, u will be paying the full amount of stamp duty