Hi guys
I recently bought a property on the FHOG and received the stamp duty concession.
I have lived in it for >6 months.
If the property is vacant (not tenanted and not lived in by me) do I have to repay the stamp duty concession for the period that I do not live in it?
Thanks
look up the requirements. i think you will find it says something like you must move in within the first 12 months and live there for at least 6 months.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry
Thanks – I checked this at: http://www.osr.nsw.gov.au/lib/doc/factsheets/fs_fhb1.pdf
You are correct – 6 months continuous residency in 1st 12 months. Also phoned the revenue office to confirm.
Thought I had read something to the contrary on this forum.
Cheers
I did some research into this a couple of weeks ago, my my focus was selling part or all of the property that was purchased within the 12 month period. If you do this, you'll have to pay back the First Home Concession you received (the waiver in Stamp Duty).
Check out more info in the post here:
https://www.propertyinvesting.com/forums/property-investing/help-needed/4329989
This research was done in QLD, not sure if it's different in other states.
Cheers,
Darren
You must be logged in to reply to this topic. If you don't have an account, you can register here.
