With the FHOG in NSW do you have to live in the property for six months within the first twelve months of owning the property or do you have to commence living in the property for six months within the first twelve months.
IE… rent it out for the first ten months then move in from months ten to sixteen then rent it out again.
Is this within the conditions of the FHOG? just after some clartification.
Cheers,
Dave.It is the first six months of occupation the OSR is concerned. No leasing for this period.
I don’t understand exactly what you mean number 8?
Think #8 might be mistaken on that one.
It is :
At least one applicant occupies the home as their principal place of residence for a continuous period of at least six months commencing within one year of the completion of the transaction to which the application relates.
Richard Taylor | Australia's leading private lender
Thanks for the reply Richard – that means the scenario I listed is valid.
Cheers,
Dave.Quote:At least one applicant occupies the home as their principal place of residence for a continuous period of at least six months commencing within one year of the completion of the transaction to which the application relates.That's right you could move in and begin living in the property for the required 6 month period beginning on the 365th day after the date the transaction was completed if you wanted to. You could also rent it during that time and or have people renting rooms while you live in it for any of that time.
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