Please direct any comments, thoughts or questions in relation to the changes to the FHOG as discussed in the Feburary 2004 Insider newsletter (to be sent Sat/Sun night).
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanks for clarification about FHOG changes. I know lot’s of time people have wrote here that one is eligible to get FHOG even if they had investment properties. Is it still correct?
Cheers
[
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PropertyGuRu
I want to be billionaire! [] Yes it is correct depending on when they were purchased.
Check it out on
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Follow the links to your state government department.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Thanks Simon! For NSW it’s july 2000 as said.
Cheers
[]
PropertyGuRu
I want to be billionaire! [] Hello Steve
I listened to the tape from the TV show, and it surprises me that some people would look a gift horse in the mouth, and dropout.
I will not mess around and say that I would take there place with no questions asked.
Give someone a go that is interested.[]Hope this is not a silly question.
I bought my first investment property in Sept 2000. Prior to July 2000 I never own any home. Will I still legible to FHOG?
As I am now own more than 1 IPs I am sure I won’t be legible, but just wondering and confuse that’s all.
Warm Regards
ChanDollars
[Keep going, you’re on your way to financial freedom]Chan$,
If you have never lived in them and didn’t own property before Jul 2000 then you are eligible for the FHOG.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by MortgageHunter:Chan$,
If you have never lived in them and didn’t own property before Jul 2000 then you are elegible for the FHOG.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
If I have not claim the FHOG when I bought my PPOR in 2001, can I go back and claim it?
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Hey Chan$,
your in the same boat as me, though, there could be some changes to the FHOG very shortly and an income test will be done to see how much FHOG you are allowed to recieve and benefit.
my assumptions are, will be an income test on all income earned for that year, not including any paper losses or deductions, not sure when the ruling will come in, if this is the case, then it would be a better option for us to purchase a PPOR as soon as possible before we lose our FHOG or recieve a lesser FHOG grant.
Cheers,
sisChan$,
I just spoke to the OSR on your behalf (I hope you don’t mind).
They tell me that you are past the 12 month application period from when you bought the property.
I took it higher and we believe that the best strategy is to apply for the FHOG and you will get rejected.
Then appeal that rejection and put forward your case as to why you didn’t apply.
Youy will need to have some good reasons for why you didn’t know your entitlement.
Best of luck,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Mortgage Hunter & SIS,
Just to make my question clearer, here is my situation:
Step by Step:
0. Never own any property before 1 July 2000
1. Bought IP1 in Sept 2000
2. Bought Ip2 in April 2001
3. Bought PPOR in June 2001 (can I claim FHOG? at that time I did not put in a claim because I think I am not eligible.Can I go back and claim FHOG that I bought in 3.
Thank you for your help.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Chan,
You missed the 12 month period which you can apply in.
Apply now and it will be automatically rejected.
Then appeal that decision on the basis that you didn’t know your entitlement.
Maybe you can pretend you didn’t understand because of language problems?
Call me if I can explain it further.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Originally posted by MortgageHunter:Chan,
You missed the 12 month period which you can apply in.
Apply now and it will be automatically rejected.
Then appeal that decision on the basis that you didn’t know your entitlement.
Maybe you can pretend you didn’t understand because of language problems?
Call me if I can explain it further.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Thanks Mortgage Hunter. I will try to call sometime later as I am on training at the moment!
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]I am very sad now. I can’t believe that I am eligiable for FHOG and not claim it. Silly Chan$…
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Dear All,
As you all probably know that I am eligible to FHOG and did not apply for it back then. Now I will apply for it and as Mortgage Hunter said I will get a rejected. Therefore, I will try to write a letter to explain my situation regarding this matter. At this stage in time the reason that I did not apply for it back then because:
1. I just return from oversea and don’t know about FHOG.
2. My solicitor did not inform me about FHOG.
3. My lender did not inform me.
4. I didn’t understand because of language problems? (a good suggestion by Mortgage Hunter because my English quite poor)At this stage I only have 4 points and would like to have more reason to add to it. If anyone here have any suggestion why I should be eligible, please put up a suggestion here. I will appreciated you input in advance.
Thank you.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]MORE ON FHOG:
FHOG Eligibility Assessment
Please answer the following questions
1. Will this be the first time each applicant or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia? Yes
2. Is each applicant or their spouse/de facto a person who has never owned a residential property, either jointly, separately or with some other person before 1 July 2000, in any State or Territory of Australia? Yes
3. Is each applicant or their spouse/de facto a person who has never owned and occupied a residential property (other than the property to which this application relates), either jointly, separately, or with some other person, on or after 1 July 2000, in any State or Territory of Australia? No
4. Is each of the applicant(s) a natural person? (ie. not a company) Yes
5. Is one of the applicant(s) a permanent resident or citizen of Australia? Yes
6. Will at least one of the applicant(s) be occupying the home as their principal place of residence within 12 months of either settlement or completion of construction? Yes
7. Has each applicant:
a) entered into a Contract of Sale of Agreement for the purchase of a home and land on or after 1 July 2000?
or
b) signed a contract to have a home built on their vacant land on or after 1 July 2000?
or
c) in cases of an owner-builder, commenced laying of foundations of a home on their vacant land on or after 1 July 2000? YesDear All,
Just to make my question clearer, here is my situation:
Step by Step:
0. Never own any property before 1 July 2000
1. Bought IP1 in Sept 2000
2. Bought Ip2 in April 2001
3. Bought PPOR in June 2001 (can I claim FHOG? at that time I did not put in a claim because I think I am not eligible.From the assessment questions above I answer yes to all the question except question 3 (NO). This question state that “never owned and occupied”. I did owned 2 IPs but I never occupied it. Does it mean I am still eligible. is this a yes or no?
From 1 july 2000 to the day I bought my first PPOR (June 2001) I owned 2 investment properties therefore I may not be eligible for the grant.
Am I right?
I am confused. Can you help?
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Chan,
The answer is yes.
Call me and I will talk you through it.
Now get your application in!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Originally posted by MortgageHunter:Chan,
The answer is yes.
Call me and I will talk you through it.
Now get your application in!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Thanks, will call you later!
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]>>pretend << ?
Isb’t the fact that one was unaware of being eligle sufficient ground for reconsideration ?
Pisces
Pisces,
That is our plan mate.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
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