First Home Buyers Grant BEWARE!!

[Shaneelastic]

If the governments going to hand out tax payers money then give it to everyone, this robin hood circle cylce really gives me the shi*s in an increasingly over legislated country. Rules are for sheep and where do they usually end up? Do you see wolves following rules?

This was done to prevent Australia going into recession.

I had a client yesterday who was over from the UK, Aussie Expat, she said it was so depressing over in Europe at the moment.

Yesterdays Unemployment rate was great news, last week’s job ads at 2.5 year highs are great. Business confidence is back to neutral levels. 75% of businesses are looking at putting on staff over the next 12-18 months.

It could have been a lot worse. The Australian Government (or the policy makers behind the government) did a good calculated stimulus policy that effected the economy immediately.

Australian debt to GDP ratio is extremely good compared to the rest of the developed world.

 

[lizzie]

when i first bought at house (22 years ago) the state government had first home buyers stamp duty exemption - and uni was free. each generation gets something different that previous and coming up generations like to complain about.

for the current generation - nowadays a uni course might cost your $5-20,000 - but you get first home owners grant and still get stamp duty concessions.

it all goes around. the only thing to worry about is playing by the current rules. no point in being a martyr and not taking what you can and there are no medals or parades - and no point in being dishonest and trying to take to much because you will eventually be caught.

 

[GGABec]

I recently saw client who had to repay the FHOG. She purchased a property out of town and worked in the city. The commute was long but she liked the fresh air. Being young and single she didn't spend much time at home and the sweet old lady next door loved to cook for her when she was home. It was deemed that her electricity bill was not high enough for someone to actually live in the house, so she had to pay the grant back...

 

[Lil Skater]

I recently saw client who had to repay the FHOG. She purchased a property out of town and worked in the city. The commute was long but she liked the fresh air. Being young and single she didn't spend much time at home and the sweet old lady next door loved to cook for her when she was home. It was deemed that her electricity bill was not high enough for someone to actually live in the house, so she had to pay the grant back...

That doesn't seem right. Didn't someone say earlier they don't check the amount that's used.

Plus if she wasn't living there, she also wasn't letting it to anyone, thus not an investment.

 

[Perp]

when i first bought at house (22 years ago) the state government had first home buyers stamp duty exemption - and uni was free. each generation gets something different that previous and coming up generations like to complain about.

for the current generation - nowadays a uni course might cost your $5-20,000 - but you get first home owners grant and still get stamp duty concessions.

it all goes around. the only thing to worry about is playing by the current rules. no point in being a martyr and not taking what you can and there are no medals or parades - and no point in being dishonest and trying to take to much because you will eventually be caught.

Good point about different generations getting different benefits, lizzie. I confess I forgot about some benefits that I got "way back when"... thanks for putting it in perspective.

 

[skater]

Good point about different generations getting different benefits, lizzie. I confess I forgot about some benefits that I got "way back when"... thanks for putting it in perspective.

Sheesh! All I got was 5 years to pay off my Stamp Duty, like an interest free loan. No benefits.

 

[RumpledElf]

1. Utilities bills (as already mentioned in this post);
2. Address on electoral role;
3. Address on private health policy;
4. Driver's license address;
5. Address on tax returns.

Sheesh, they'd have a hard time with us. We still have the phone at both houses, got the electricity disconnected very late at the old one, and took around a year after purchase to slowly move the mailing addresses of everything from the old to the new house. We had an almost 18 month period where one or the other house was vacant - one we had to leave uninsured too as noone would cover it.

I suppose we had better do it a bit faster when we move next time, although considering we will be moving one house to the left the temptation to just tell the postie to chuck our mail in the letterbox next door will be extremely high.

 

[dr.jauncey]

Hi, in relation to data matching,

Compliance
As this grant is not intended to be used for the purchase of an investment property, we will ensure that grant recipients have resided in the property for 6 months and within 12 months as their principal place of residence. We will be utilising information provided by the public, data matching and verification checks to ensure compliance.

Other states have similar guidelines for public viewing. Also note that the legislation also provides for the Commissioner to demand certain information, statutory declarations and sworn oaths from a person whom they suspect to have used the grant illegally. They may also obtain permission or warrant for search and entry to ascertain facts when necessary.

However the legislation also provides for fair objections including the opportunity to present to a tribunal should the Commissioner find reason to refuse such objection. GGABec. Your client's case seems reasonable. Did they take up such opportunity?

 

[navjit6]

i've had my first home for just over 6 months. i was wondering if i wanted to sell now could i (considering i want to keep the grant)?

 

[Lil Skater]

I you've been living in it for those 6 months, then yes. If not, you must reside in the property within a year for 6 months or you cannot claim
the grant.

 

[navjit6]

thanks skater

I you've been living in it for those 6 months, then yes. If not, you must reside in the property within a year for 6 months or you cannot claim
the grant.

 

[Perp]

i've had my first home for just over 6 months. i was wondering if i wanted to sell now could i (considering i want to keep the grant)?

Do you want to sell now? If so, why? I'm just curious, because property's not usually a short-term play; and particularly so in the current environment!

 

[jaycee]

Sheesh! All I got was 5 years to pay off my Stamp Duty, like an interest free loan. No benefits.

There's always one isn't there...

 

[navjit6]

Do you want to sell now? If so, why? I'm just curious, because property's not usually a short-term play; and particularly so in the current environment!

no i have just started doing renos on the property. will hold at least 1 year but no more than 6yrs as i will probably move out soon. i was just wanted to find out for my own knowledge.

 

[Bigtone]

i know of a lawyer that got disbarred ( is that the right word) for falsely claiming the grant in tassie.

ELF i am not sure your interpretation of the rules is correct, believe the rules relate to current partners only,

in tassie they investigate every grant paid after 12 months, they can access everything, ATO records to see if you claimed as investment, bank records to see rent, utility bills, employment records, credit card statements the works

they love catching people over there it is like a sport to them, when they caught that lawyer they had a party!

 

[Ms Jade]

^Unreal. All solicitors know they will be struck off the roll for a dishonesty offence. You are even denied a practising certificate for plagiarism at uni. How can someone be dumb enough to risk it for $7000? I wouldn't want them representing me.