Qld first home stamp duty concession query

[start-up]

http://www.osr.qld.gov.au/duties/tr...s-and-concessions/concessions-for-homes.shtml

I'm working on buying my first property (in Brisbane) I'm wondering if I can still access the federal first home buyers grant and Queensland first home stamp duty concession if I have tenants in the home at the same time.

Ideally I would satisfy the minimum occupation requirements and then move the property to a full blown IP.

I believe the FHBG requires an applicant to live in the property for six of the 12 months immediately after settlement of the home, the Qld stamp duty concession legislation in particular has me confused:

'You will lose the concession if you dispose of all or part of the land or home (by transferring, leasing, surrendering the lease or granting exclusive possession in another way) within 1 year of occupying it as your home.'

similar wording in another section:

'do not sell, transfer, lease or otherwise grant exclusive possession of part or all of the home, or surrender the lease to another person(s) before moving in or within one year of the date you move in'

Soooo does renting the property out while still living there (for what looks like 12 months) constitute surrendering the lease?

*confused*

 

[Propertunity]

Are these 'tenants' really 'boarders' that simply help you out by 'contributing' to the household expenses (in which case you do not have to declare income and neither do you get to claim expenses) ....or do they have an existing lease .......or were you planning to put them on a formal lease?

 

[start-up]

Hmmmm I see the distinction. I guess I could find some boarders for the short term. Eventually I would want the arrangement to become formal with my boarders being replaced by leased tennants. If that can't happen legally after 12 months then I wouldn't bother putting in for the stamp duty concessions.