Hi All,
I am about to apply for the FHOG and would like to know if my situation should prevent me from recieving the grant. Details are as follows:
1. Purchased first property in Feb 2004 from my sister (marriage break up) at market price.
2. Rented property to my sister for 8 months.
3. I moved in Nov 2004 and want to apply for the FHOG.
On the application form it asks whether to indicate if you purchased the property from a relative and if so to provide an explanation. Is this just to check if property is not being purchased at market value? How detailed does the explanation have to be.
Thanks Heaps.
Be quick as you have 12 months to apply from purchase.
From the website:
Q: How long do I have to apply for the grant after purchasing or building my home?
You have 12 months from completion of the eligible transaction to which your application relates to lodge your application. The Chief Commissioner has discretion to extend this period in exceptional circumstances.Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Fully Accredited With Derivex PTY LTD and IFHL PTY LTD
***Ask about our Interest Free Home Loan***
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Can’t I just back date the application to Nov 2004 because that is when I moved in?
I don’t believe so – it goes from purchase. You have 12 months from Feb 2004 so not a problem.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Fully Accredited With Derivex PTY LTD and IFHL PTY LTD
***Ask about our Interest Free Home Loan***
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
So does it matter that I purchased the property from a relative – will the application still be accepted?
When I applied for the FHOG, I rang the Office of State Revenue, and they were very helpful with all the info I needed. I suggest giving them a call.
Cheers
Kez
You are still eligible. Don’t stress. Just get your application in.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
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