Quick question about FHOG

[Bez]

Hey guys,
Went to the bank yesterday to see about a loan..
I bought a IP 2 years ago but have never lived in it so i can still get the FHOG.. All good, guy behind the desk was fine with that.

Today I had a messge on my phone saying he chased it up and I can get the FHOG but i still need to pay stamp duty...

Is this true ?

Thanks

 

[Jacque]

Yes
Unfortunately, you only are eligible for the stamp duty exemption if you've never owned any property before.

 

[Bez]

Ouch

Thanks Jacque

 

[want2bewealthy]

I own two other properties and recently bought my 1st PPOR, I was refunded the stamp duty I paid in full.

Thats the law in NT, check with your local Government website for elightability criterea, I had to send off all my rental statements from my property manager plus a short letterhead to say Ive never lived in any of them.

 

[Jacque]

Well you're lucky up there in NT!

In NSW it's quite different. Read eligibility here for the First Home Plus scheme (stamp duty exemptions):

http://www.osr.nsw.gov.au/benefits/first_home/general/fhplus/

 

[sparky23]

Hi Bez

If you buy a house and land package you will only pay s/d on the cost of the land but shop carefully as in many areas now you may be better of to buy an almost new resale and wear the stamp duty than building.

 

[Belu]

no stamp duty concession in melb