Hi all,
Can I Claim FHOG, If I decide to buy an Invesment Property before my own home. (Qld)
I’ve never owned any property before or yet.
Ta,
It is the starting that stops most ppl.
Yes.
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi JaRRN,
Not sure what MortgageHunter has got (probably the same). If you buy an Investment property and then at a later date want to buy a principal place of residence. Then you are still eligible for the FHOG.Section 14 (4) of the Act provides that an applicant is eligible for the grant if the applicant or the applicant’s spouse has, on or after 01 July2000, held a relevant interest in residential property in Australia, which was not used at any time as the residence of the applicant or the applicant’s spouse.
Offcourse you still need to be eligible for the grant under the ruling.
By the way this is not advice I would recommend that you check this for your self and not act on my advice.
Cheers,
MarkyMark
In a similar vein to this thread, my wife and I claimed the fhog on our house.
I am interested in buying some acreage in qld in our 3 kiddies names.
If I could find acreage on three titles (easily done), can I get 7k times three (assuming they stay in the kiddies names and I guarrantor and pay the loans)?
Sorry Wrappack, but the answers no, there was alot of 2 year olds ‘buying’their first home so Qld (at least) now have an addendum to the usual FHOG form that you have to fill out and one of the points is that you have to be over 18.
We should’ve all thought about that when the FHOG first came out, could’ve been handy!!!!!!!
Sorry Wrappack, but the answers no, there was alot of 2 year olds ‘buying’their first home so Qld (at least) now have an addendum to the usual FHOG form that you have to fill out and one of the points is that you have to be over 18.
We should’ve all thought about that when the FHOG first came out, could’ve been handy!!!!!!!
Wrappack,
Note that you cannot claim the FHOG on the investment property however.
In the legislation you must be occupying the house as your PPOR for a set period of time.
This doesn’t stop you from buying a house & granny flat (on one title) – living in the flat & renting out the house though
Cheers,
Aceyducey
JARRN,
FHOG Basics:
The grant is for $7,000 whether you are building or buying an established home. To qualify you must not have owned a home before in Australia. This means that people who have owned a home overseas will still qualify for the grant. Also people who have previously owned land in Australia but not a home will qualify. To qualify you must move into the home within the first 12 months and stay there for at least 6 months.
Stamp Duty:
From the 1st May, 2004 there is a reduction in the Queensland stamp duty payable, on the home purchase, for people who qualify for the Grant. If the house costs less than $250,000 there is no stamp duty. Over $250,000 the stamp duty cuts in on a sliding scale.
Rumour Mill:
There is concern that after the Federal Election the Grant will be abolished but the Stamp Duty Concessions will remain as compensation. Accordingly, there is a small window of opportunity to take advantage of both.Originally posted by Julia:JARRN,
FHOG Basics: The grant is for $7,000 whether you are building or buying an established home. To qualify you must not have owned a home before in Australia.HI Julia,
If you are going to offer advice with such fervour and confidence Id advise checking your facts first…
Your assertion that “To qualify you must not have owned a home before in Australia” is simply wrong. You can still have owned a property after July 2000 and claim the FHOG if you have never resided in it… FHOG rules prevent those who have owned a PPOR since that date from claiming the Grant. There a number of threads on the forum where you can better educate yourself on this matter.
The link Simon provided is spot on for detail, and includes all the details necessary to make an informed decision.
My personal advice is to check your facts before you offer erroneous advice to others.
Best wishes,
Jay.
PS The FHOG in QLD is $10,000 for new properties and $7000 for established ones.
I read Julia’s reply differently to yours. Owning a “Home” is a PPOR.
It’s a stretch to call an Investment Property a Home.
Talking about getting your facts right JAY.
I assure you the FHOG in Qld for a new home is $7000 and not $10,000 my old son.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
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