First home Buyer's grant

From: Simon and Julie M


Hi All
An interesting question came to mind regarding the first home buyer's grant $7000

If a person bought a property using the grant would they still be able to let a section of the house to claim a tax consession?
Simon
 
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Reply: 1
From: Mel W


Hi, that's what my boyfriend and I are doing. We bought a place in January using the grant, and we now rent out a room to his cousin, helps pay the mortgage and gives us some tax advantages! As far as i've seen the rules with the grant are pretty wishy washy, some friends of mine lived in their house for a week before moving out and it becoming an investment property, still got the $7000!
Hope this helps, Mel
 
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Reply: 1.1
From: Guy Wood


You can check out the rules @ the "Office of State Revenue's" website.
They're pretty big on the fact that you intend the property 2b your 'principle place of residence'
 
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