$7000 grant

Viewing 9 posts - 1 through 9 (of 9 total)

bassham
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@bassham
Join Date: 2003
Post Count: 1
September 27, 2003 - 11:55 pm
hi everybody, Am new to all this, but I have a question regarding the $7000 gov grant to first home buyers.My Partner doesnt own a home yet and was wondering if any body knows if she can use this money towards an investment property, without actually having to live there. Thanks[:0)]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
September 28, 2003 - 12:58 am
[No]
Billfromoz
hi everybody, Am new to all this, but I have a question regarding the $7000 gov grant to first home buyers.My Partner doesnt own a home yet and was wondering if any body knows if she can use this money towards an investment property, without actually having to live there. Thanks[:0)]
[/quote]
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
September 28, 2003 - 1:47 am
To take it one step further – if your partner hasn’t used it but you have or you own a home and you are defacto or married then she has no entitlement.
Simon Macks
Mortgage Broker
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
hallington
Member
@hallington
Join Date: 2003
Post Count: 8
September 30, 2003 - 3:43 am
Wouldn’t even try it—i know someone who received $14000 about 3 years ago—and she’s just recieved a letter now asking her to prove that she ever lived there. She never did but implied at the time that she did. It was only an investment.So now she will have to pay out…hopefully anyway!!
From my understanding you have to live in it for 6 months yourself to qualify for the grant or you have to move into in within the first year of owning it.
There is info you can access under nsw or appropriate state government sites all about the FHOG
Hope that helps
Hannah
crashy
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@crashy
Join Date: 2003
Post Count: 736
September 30, 2003 - 5:17 am
You can live there for a month or so within the first year, maybe do a reno.
You need proof of residency:
Drivers licence address change
Tax dept address change
Bills in your name for the period
Now you can claim the $7,000…..
FALCON
Participant
@falcon
Join Date: 2003
Post Count: 20
October 1, 2003 - 1:42 am
I randg the apropriate govt agency to ask the question they said;
their is no specified time but you must use it as your primary place of residence in the first year they suggested a for a min time of 3months after which you can do as you please.
bouncecf
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@bouncecf
Join Date: 2010
Post Count: 14
July 28, 2010 - 10:04 am
Falcon – not sure which gov department you spoke with but there is definately a minimum time you need to live in the property to qualify for the FHO grant. The FHO government website states: "must occupy the home as their principal place of residence for a continuous period of six months commencing within 12 months of settlement or construction of the home." thought i only looked up the NSW rules so maybe it's different for different states??
Bassham – this might help: http://www.firsthome.gov.au/
good luck!
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
July 28, 2010 - 10:59 am
bouncecf – the last post before your's was 7 years ago! You have dug up an old thread.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
kong71286
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@kong71286
Join Date: 2009
Post Count: 261
July 28, 2010 - 1:08 pm
lol
lucky you spotted this Terry