All Topics / Help Needed! / FHOG question

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  • Profile photo of kons101kons101
    Member
    @kons101
    Join Date: 2008
    Post Count: 4
    December 15, 2009 - 12:44 pm

    Just a quick question,

    If I signed my building contract in October 09 (Eligible for 32K FHOG), but settlement of land doesn't occur till 23rd Dec 09. Will this affect the eligibility of obtaining full FHOG? (As settlement of land is after building contract date) Or is settlement of land independent/Not Affected by FHOG

    From what I read, building has to commenct 26 weeks after contract is signed. Is this correct?

    Thanks for any info!!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 15, 2009 - 10:44 pm

    FHOG varies from state to state, but in NSW I think you must commence building within 6 months of exchange of contracts.

    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

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