A question…
Let’s say you are about to buy your first home. Let’s also say that for whatever reason, a few years back, your parents had put you on the deed (not solely, but in conjunction with them) for one of their properties. They still have this property and no profit was made or directed to said child.
Would this person be considered ineligible for the FHOG, despite not having actually ‘owned’ the property?
I had a friend in a similar situation. The advice he received was that he was in fact considered an “owner” of the joint deed with his family hence denying him of the FHOG.
Boy was he bummed that his parents used him as a way of minimising their taxes…..
1 Jul 2000 is the cutoff date. If they bought it prior to this date then you are are not entitled.
Check it out at
http://www.osr.nsw.gov.au/portal/page?_pageid=33,63398&_dad=portal&_schema=OSRPTLT
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The topic ‘FHOG eligibility..’ is closed to new replies.
