Hi all,
I currently do not own my own home, but am looking at purchasing investment properties first. Will I lose my FHOG if I do this?
Cheers
NO
http://www.mortgagepackaging.com.au/index_files/first_home_owners.htm
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 LtdNo you won’t.
Do not try to apply for it though if you know you’re not going to live there.
Reason why you won’t lose it, is because the legislation draws a difference between a ‘home’ and ‘property’. Therefore, you can own a property and later buy a home.
Just be careful though, as:
– they may close this loophole
– if you live in Victoria, the $5k additional bonus is currently due to expire on June 30.Hi JamesA
Is this the case in WA? I have searched the link by The Mortgage Advisor and cannot find where it states this. My understanding is you have to move into the property within twelve months to receive the FHOG.
Regrow
You are a fool for 5 seconds if you ask a question, but a fool for life if you don’t.
Hi Regrow,
I know what they say about assumptions, but I would ASSUME this is the same for WA. Reason why I say this, is that the $7k grant is made under Commonwealth Law; only administered/distributed by the States.
1300 363 211
The WA FHOG Hotline. Give them a call tomorrow and put your mind at rest.
Cheers,
Simon Macks
Interest Free Home Loan Agent
http://www.mortgagehunter.com.au
0425 228 985Fully Accredited With Derivex PTY LTD and IFHL PTY LTD
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Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It is not whether it is a ‘property’ or a ‘home’. It is whether you move into it or not.
If you do not apply and do not move into it and the property was bought after 1 July 2000, you can get the FHOG later when you buy a home you move into.
If you do apply and do not move into it and the property was bought after 1 July 2000, you have to return the FHOG and can get it back later when you buy a home you move into.
Regarding the link I posted, you had to click on your State and then the FHOG link to see the eligibility criteria. It is in there and the same for all States. The additional first home owner benefits are all that is different in the States. The phone numbers are also there so you can call for individual State info.
http://www.mortgagepackaging.com.au/index_files/first_home_owners.htm
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