- bardon wrote:still a goer but wait fellow tax payer is this moral ?
Hehe ! i love the irony in this comment ! There are only 2 certainties in life – Death and Taxes ! hehe ! I personally dont think that stamp duty is moral – ( Especially in Victoria )
my situation is that i signed the contract 2 weeks ago, and the form has been lodged with the state revenue office
I am speaking to my bank manager tomorrow – hopefully, i may be able to get around it
cheers
Wian
another thought – why dont they make the bonus grant payable on the day of settlement for yr property- not the day you signed the contract?
cheers
- Hi all
Just a little clarity to the points raised.
The "Boost" as it now known is available for eligible buyers on any property where the Contract was entered into after the 14th October 2008. For new properties this relates to the date the Building Contract was entered into.
There is nothing to stop you subject to the Contract conditions terminating a purchase contract and then re-entering into a new contract with a date post 14th October 2008. Obviously if the original contract was subject to any special condition such as finance etc then you may have to enter into a fresh new unconditional "cash" contract but would certainly be worth it.
Richard Taylor | Australia's leading private lender
I'm just trying to find out if I'm elligible for the new scheme for the new First Home owner Grant.
I signed a building contract 28th of August 2008, but the land has only settled 2weeks ago, so the building loan (as it's seperate from land loan) has not been setup yet. The building should start at the start of November and finish around March 2009.
Please let me know if I missed it or if I'm elligible for it.ckgirl
Regretfully the answer is no as the date of the Building Contract is prior to the 14th October 2008.
Unless you can cancel the contract and start again you will miss out on the addiitional $7K.
Richard Taylor | Australia's leading private lender
Its a new home….it is $14000 they are missing out on.
Hi,
I signed a contract on the 2nd of October and settlement is due on the 24th…
Is there any risk associated with rescinding a contract and resigning? (assuming all other parties agree and are aware of the reasons)
I'm told that there is the risk of being charged duty twice (??) and that to rescind and resign a contract, there must be no financial gain as a result… is this correct or have I been told furphies?
Thanks in advance for your help…
Cheers,
DanHi all!
I purchased a property at auction on 4th October (yeah 2 weeks before the announcement and i feel like a sucker). So wondering if there is any chance possible to get the doubled first home loan grant?
I don't see why they have to go on contract date when surely it should be settlement date as that's when the real transaction occurs.
Anyone have any ideas or know of any loopholes?
Thanks
firsthome wrote:… I don't see why they have to go on contract date when surely it should be settlement date as that's when the real transaction occurs.But the point of the boost is to get more people to sign contracts and buy houses, so why would the gov't give someone a bonus when they've already signed a contract before the announcement? They obviously didn't need the extra cash in order to pursuade them to make the purchase… That's just how I see it.
I'm in the same position as you, it sucks!
VDan,
The point isn't to convince buyers like yourself – who were already prepared to buy.
It is about getting those who aren't quite ready to commit into the market.
A little more research and it seems like housing credit is actually on the edge of a cliff – the percentage of people buying is incredibly low at the moment and, like a typical public servant, Rudd has given a knee jerk response.
ummester wrote:VDan,
The point isn't to convince buyers like yourself – who were already prepared to buy.
It is about getting those who aren't quite ready to commit into the market.
I agree completely! That's what I was saying (or at least trying to say) when I wrote "But the point of the boost is to get more people to sign contracts and buy houses"… by "more people" I meant those who need extra convincing (in the form of the increased grant) to commit. I was just trying to explain to "firsthome" why the grant goes on the contract date and not the settlement date.
The WA office of state revenue has a dire warning up about cancelled and re-signed contracts. Not sure if the threat has any teeth but read & consider.
- Hi all
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