hi, i jsut want to double check this. would i still be entitled to first home buyer grant if i bought an ip through a trust structure, me being the trustee aswell as the beneficiaries?
Yes as long as you have never purchased a PPOR previously.
Richard Taylor | Australia's leading private lender
What state do you want to buy in?
nsw most likely
Hi ume
I have just had a look on the NSW FHOG website and looked at the application form. It states quite clearly that applicants must "be a natural person (ie not applying as a company or trust), at least 18 years of age and whose interest in the property is not held subject to a trust".
To my mind, that makes it quite clear that you cannot use the FHOG if you are buying in a trust, despite the fact that you are the beneficiary.
I haven't looked at the legislation behind the application form but given that it is the second criteria, I would think that the legislation would also state the same quite clearly.
Cheers
K
Hi again
I have just had a look at the legislation, "The First Home Owner Grant Act 2000" of NSW. Section 8 states very plainly that the applicant must be a natural person.
A trust is not a natural person.
Cheers
K
sorry linar, i meant, would i be entitled to fhog when i purchase my principal home in the future if i buy an IP now through a trust.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
