First Home Owners Grant

Viewing 4 posts - 1 through 4 (of 4 total)

Rachel
Member
@rachel
Join Date: 2002
Post Count: 18
December 17, 2002 - 6:32 am
Hi Guys , Sorry for all the Questions. How do you go about the first home owners grant in Qld. Is this something I need to be registered as for people to buy houses off me in a wrap deal. Or is the wrapee’s that need to do this. If so what is the avenue you have to take and how long does it take?
Regards Rachel
wilsonkay
Member
@wilsonkay
Join Date: 2002
Post Count: 52
December 17, 2002 - 7:21 am
Hi Rachel,
All the questions are no problem.
Don’t quote me on this but I believe in Queensland (as with Tasmania) you have to wait 12 months before the government will pay the FHOG under an Installment Sales contract.
As for the avenue to receive the FHOG – You can down load an application form from the internet (not sure of the address, but will see if I can find it and post it up) and get your client to fill it in, but placing your bank account details on the form as being the account nominated to pay the FHOG
I suggest however that you consult your lawyer in this regards as, there are probably no guarantees that you will actually get the FHOG 12 months later anyway. We actually work on the worst case scenario that we may never recieve the FHOG and we build this in to our deal, which quite often means we are dealing with a different segment of the First Home Owners market as a result, because they have to have a larger deposit up front.
Hope it helps.
Regards,
Tim Wilson.
“Poverty is not an option”
Edited by – [email protected] on 17/12/2002 4:24:03 PM
Gavin
Member
@gavin
Join Date: 2002
Post Count: 42
December 17, 2002 - 7:42 am
Dear Rachel,
The FHOG varies in each state, it is not something you have to register for. It is up to the wrappee to apply for the FHOG but you may have to hold their hand in the application.
In QLD i believe the FHOG is only due when the wrapee has lived in the property for 1 year.
Hope this helps
Regards,
Gavin
golfer
Member
@golfer
Join Date: 2002
Post Count: 27
December 17, 2002 - 11:17 pm
Hi Rachel
You can find out more info on the Qld site of the Office of State Revenue which is http://www.osr.qld.gov.au or Telephone # 1300 300 118.
You dont need to be registered but bear in mind that payment of the FHOG is only made after 12 months payments have been made i.e in the 13th month. If you need any more information please email me at [email protected]
Regards
Richard