Something I’ve read here makes me think I got bad legal advice a while back…. can someone set me straight.
In late 1997 my I (with my fiance) bought an IP in NSW – never lived in it, rented elsewhere.
In AUG 1999 we bought a property in which to live.
Sold the IP in NOV 1999 to fund the demolition and build of new house.
New house was complete DEC2000 in the GST era.We were told in 1999 that we didn’t qualify for FHOG as we had already owned a property (the IP).
Now I’m left wondering if that was the case. The thing is before 1999 there was an income test on FHOG which ruled me out but I think it got lifted or removed when the GST was looming.
Anyone fill me in here?
Scary.
Pretty sure you have missed it.
Go to my website and check the FHOG section then NSW and get in touch with the NSW OSR to check for sure.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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