Hi Everyone, I will like to know whether if I buy investment property through a trust, I will still be eligible to first home owner grant when I want to build my primary place of residence? Thank you.
You mean if you buy as trustee of a trust?
it will depend on the state legislation where you are buying, but you would generally qualify I think.
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
Thank you, I’m in south Australia and though our dream is to have as many property investments as possible. My significant other insist on us building our home first. The main temptation is the fist home owner grant. So I”m looking for a way to still get the grant and not to completely stop us from being able to borrow for investment. At the moment, we do not have any loan or investment.
You are still eligible for the FHOG in South Australia, even if you already have investment properties. The specific rule is that you’ve never owned your own principal place of residence.
You do not need to make the purchase within a trust either. This is pretty common for younger buyers that we help finance in SA – they will get an investment property or two before committing to their PPOR, claiming the grant at the later date.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Thanks Corey, I will be in touch.
Yup, as Corey said, as long as its for a new property and will be a PPOR. Getting in touch with him is a very good idea.
D.T. | DT Property Management
http://www.dtproperty.com.au
Email Me | Phone MeAdelaide Property Management - whole Adelaide metro
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