Hello folks… Does anyone know if any first home buyer has been approached by the government to prove they actually lived in their first home (after claiming/receiving the First Home Owners Grant)?
There is an audit team who checks.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks Simon…
I’m just wondering what kinds of things they check. We can’t afford to buy in the Newcastle area as you know, we don’t qualify for enough to purchase here. So was thinking of buying elsewhere, renting that out to tenants and remain renting here ourselves.
The government claims to be helping first home buyers by making changes like this (12 months living in property to qualify and new investor tax), but it’s only made things more difficult for us (first home buyers) and a minor irritation for investors.
I wish they’d stop “helping” first home buyers – so we can have a chance to help ourselves. [angry2]
Allan.
Yes they do check and the penalties are fierce! Have you read the FHOG Act? (It is quite short)
I think the investigators get most of their leads from tip offs. You never know when your brother is going to get divorced from his wife… She may want to cause the family some pain.
In my opinion I would not try and dupe the government. They make and police the rules – so they can steam roll you if they want to. (Judge, Jury and Executioner!)
Cheers,
GregThanks… I just wish they’d LEAVE THINGS ALONE long enough for people to actually get a foothold – and stop drilling holes in the boat, while telling us they’ve improved the drying time of silastic.
The government appears to be fairly good at catching people out. I wouldn’t bother wasting your time trying to beat them, instead try working with them.
Allan,
Is only a 6 month residential requirement. This must start within the first 12 months.
Also the vendor duty shouldn’t affect you as it only kicks in when you sell your IP.
Cheers mate,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments 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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