First Home Owners Grant

[WebBoard]

From: Mike .


$7000 1st home buyers grant
From: Dirty Sanchez
Date: 01 Feb 2001
Time: 09:30:24

Hello friends

I'm still living at home, but I have bought 2 investment properties (i.e. not "homes"). Can anyone tell me if I am still eligible for the 1st home buyers grant or have I forfeited this right.

Regards, Dirty Sanchez

 

[WebBoard]

Jangles

Reply: 1
From: Mike .


Re: $7000 1st home buyers grant
From: Jangles
Date: 01 Feb 2001
Time: 10:17:15

This is an extract from the Qld Government site that answers your question:

http://www.osr.qld.gov.au/fhog/html/faq.htm#elig-investment

I have owned an investment home previously. Can I still be eligible for the grant?

No. A person is not eligible if they or their spouse (including de facto) has had a relevant interest in any residential property in Australia prior to 1 July 2000, whether they live in it or not.

Yes. A person may be eligible if they or their spouse (including de facto) has only ever had a relevant interest in any residential property in Australia after 1 July 2000 and they have not resided in that property.

 

[WebBoard]

Dirty Sanchez

Reply: 1.1
From: Mike .


Re: $7000 1st home buyers grant
From: Dirty Sanchez
Date: 01 Feb 2001
Time: 10:57:48

Thanks Jangles.

A bit of a bummer. I wonder why they punish those who bought b4 July 2000 and not after?

Sanchez

 

[WebBoard]

DuncanM

Reply: 1.1.1
From: Mike .


Re: $7000 1st home buyers grant
From: Duncan
Date: 01 Feb 2001
Time: 09:34:26

If you've purchased the properties in your own name then you've forfeited the right..

Duncan.

 

[WebBoard]

Dirty Sanchez

Reply: 1.1.1.1
From: Mike .


Re: $7000 1st home buyers grant
From: Dirty Sanchez
Date: 01 Feb 2001
Time: 09:52:15

Thanks Duncan

I was just trying to decide whether I would be better off buying or renting when I move out.

I guess that's another positive for renting (whilst buying another IP in lieu of a home - to get the tax advantages).

Dirty Sanchez