All Topics / General Property / Help: First home owner grant and investment through trust.

Viewing 6 posts - 1 through 6 (of 6 total)
  • Omololu
    Participant
    @loluene
    Join Date: 2014
    Post Count: 3

    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.

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

    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 Me

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

    Omololu
    Participant
    @loluene
    Join Date: 2014
    Post Count: 3

    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.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    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 Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Omololu
    Participant
    @loluene
    Join Date: 2014
    Post Count: 3

    Thanks Corey, I will be in touch.

    Profile photo of D.T.D.T.
    Participant
    @dtraeger
    Join Date: 2014
    Post Count: 128

    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 Me

    Adelaide Property Management - whole Adelaide metro

Viewing 6 posts - 1 through 6 (of 6 total)

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