All Topics / Creative Investing / For those thinking ‘creative’ means rorting the FHOG system.

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of v8ghiav8ghia
    Member
    @v8ghia
    Join Date: 2005
    Post Count: 871

    HI all,

    Always taken a dim view of people using the FHOGS for 'thinly disguised IP's' or for any trying to use it to buy anything other than their first owner occupied home……….so just in case, you may be interested in the following quote from a NSW FHOG document sent out to authorized agents recently. …..so, if you're thinking about it……….(reproduced for learning purposes – factual info only)

    We investigated 2478 first home benefit applicants in 2008–09 which identified $11.9 million in returned revenue. In the twelve month period from 1 July 2009 to 30 June 2010, we investigated 2081 applicants for $11 million in revenue. In addition, we successfully prosecuted 12 first home benefit clients for providing false or misleading information or obtaining a benefit by deception.

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

    Thats a good return on their investment!

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

    Thats a good return on their investment!

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

    Thats a good return on their investment!

    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 WynyardWynyard
    Member
    @wynyard
    Join Date: 2010
    Post Count: 62

    But you can legally turn an owner occupied home into a rental property after 6 months can't you?

    Profile photo of WynyardWynyard
    Member
    @wynyard
    Join Date: 2010
    Post Count: 62

    But you can legally turn an owner occupied home into a rental property after 6 months can't you?

    Profile photo of WynyardWynyard
    Member
    @wynyard
    Join Date: 2010
    Post Count: 62

    But you can legally turn an owner occupied home into a rental property after 6 months can't you?

Viewing 7 posts - 1 through 7 (of 7 total)

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