All Topics / General Property / Another FHOG Query

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  • Profile photo of Shirley_2Shirley_2
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    @shirley_2
    Join Date: 2003
    Post Count: 87
    January 6, 2004 - 6:24 am

    I have read conflicting information on FHOG:

    “If someone purchased a property (BUT DID NOT OCCUPY) after 1 July 2000, they were still eligible for the FHOG when later purchasing their PPOR. Had they purchased the a property prior to 1 July 2000, they were ineligible.”

    I was of the understanding that FHOG was only available on your first purchase of a property and only if you lived in it within the 12 months.

    Can anyone enlighten me? Reason for my query is that, for example, if someone lived in Sydney couldn’t afford to buy there so bought an IP elsewhere, is it possible to buy a PPOR in later years and still claim the FHOG?

    Thanks
    Shirley

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    January 6, 2004 - 6:41 am

    Hi Shirley,

    This answer will put a smile on your face.

    If someone lived in Sydney couldn’t afford to buy there so bought an IP elsewhere, is it possible to buy a PPOR in later years and still claim the FHOG?

    Yes, you are still able to claim the FHOG, hence the words. First Home Owners Grant. Just a little loop hole… but very nice.

    cheers,
    s.i.s

    “People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”

    Profile photo of melbearmelbear
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    @melbear
    Join Date: 2003
    Post Count: 2,429
    January 6, 2004 - 7:03 am

    Shirley, if you do a search, Mortgage Hunter actually posted the legislation recently in a similar discussion which outlines the hows and whys of SISs answer.

    Cheers
    Mel

    Profile photo of Shirley_2Shirley_2
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    @shirley_2
    Join Date: 2003
    Post Count: 87
    January 6, 2004 - 7:27 am

    Thanks for the advice. Our son will be happy to hear this. He didn’t want to miss out on the chance of a free $7000 later if he buys IP now.

    Let’s hope the government doesn’t make any changes and decide to abolish the FHOG before he can take advantage of it. I can’t see they will as it can be so difficult for first home owners to get a start.

    Cheers
    Shirley

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