All Topics / Help Needed! / FHOG and duty exemption

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of superufosuperufo
    Member
    @superufo
    Join Date: 2008
    Post Count: 6

    I signed a contract to buy an off-plan property as my first home 14 month ago in NSW. I already filled in the form to apply for duty exemption. If I cancel the contract and re-sign again, am I still eligible for duty exemption?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    You better ask your solicitor this question. In NSW I think stamp duty is payable within 3 months of exchange of contract. So the exemption may have already been applied for? But if you don't settle then you may still be eligible. But then again you are cancelling one contract and signing a similar one for the same property, so they may not allow it as it is just being done in an attempt to get the grant.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of superufosuperufo
    Member
    @superufo
    Join Date: 2008
    Post Count: 6

    Thank you, Terryw.
    I have another question:
    If I buy another established property now and settle before the off-plan one, which is my first property? Is it based on contract date or setter date?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    It is based on Contract date however will be subject to which one you intend to classify as your PPOR.

    Richard Taylor | Australia's leading private lender

Viewing 4 posts - 1 through 4 (of 4 total)

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