All Topics / Help Needed! / FHOG – buy IP, rent out for few years, then demolosh and build PPOR, QUEST: will FHOG be received when building?

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of cadancadan
    Participant
    @cadan
    Join Date: 2006
    Post Count: 25
    April 10, 2008 - 1:40 am

    I have a friend whi is in the situation of buying a property in which he will want to rent out for the next three years. After that point, he will demolish and re-build his PPOR, so as a first time home buyer, will he be able to claim the FHOG when he builds the home? Also, what happends if he moves in later in the existing dwelling, will he be able to claim the FHOG in three years? (provided its still offered)

    Profile photo of vovchikvovchik
    Participant
    @vovchik
    Join Date: 2007
    Post Count: 9
    April 10, 2008 - 4:31 am

    Hi cadan,

    the rule for FHOG is that you have to live in the property within 6 months of the 12 months of owing it. Only then you will qualify to receive it…

    Hope it helps…

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.