G’day Steve, Crew and Everybody,
Just read the Feb newsletter in regard to the FHOG and would like to confirm the information contained in the newsletter. [
]We (my wife & I) purchased a “spec” home in Caloundra QLD in 2001. The property was completed in August and we had a tenant in there within a week. We were still living in Rockhampton QLD at that time. We both received transfers with our work and moved to Caloundra in January 2002. We ended the tenants lease at the end of 6 months (March) and we moved in for a period of 9 months. At that time we sold for a handsome (tax-free) profit and purchased in Beerwah QLD (20 minutes away) for substantially less than what we sold for and picked up a larger block of dirt same size house with a large inground swimming pool. [^]
We applied for the grant while the property was still being built and received the $14,000. We put this together with the deposit we had saved and borrowed a few thousand dollars in the form of a personal loan to come up with the remainder of the deposit and expenses.
The whole process worked like a charm… It was relatively hassle free… We informed the QLD Office of State Revenure EXACTLY what our intentions were and they were fine about it – however they informed us if we did not meet the residency requirements we would have to pay the $14,000 back to the OSR. [
]Well, I just thought I would give everybody a real live example of this process actually working. Hope this is some help to you all…
Cheers
Aaron [8D]
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