First home buyer tax issue

[andyV]

Hi all,

I plan to buy my first home in about 3 month time. I haven't got my residency yet so not eligible for any government grant. So in this case, I can buy as first home buyer or invester. Could any advice me which one should I go for interm of tax benefit.
I plan to stay in this first home in the next three years.

I am pretty new to the forum so if this question is a duplication, please refer me relevant threads.

Thanks a lot,
A

 

[Propertunity]

If you are planning to live in this home then there are NO tax benefits available to you while you live there......but if (when) you sell you will not pay any Capital Gains Tax (CGT) if there has been a capital gain.

As a FHB you will get stamp duty relief from the state govt. where you are buying and the Fed Govt. will give you a FHOG of $7K ....all when you qualify.

All the best.

 

[andyV]

Thanks Propertunity.