I’ve signed a contract in august 2003 for an apartment that is going to be where I live. The construction won’t be finished until October 2004. can I buy an investment property in the mean time and still claim the FHOG or do I have to wait until settlement???
Thanks.
Motmarich..
It’s my belief that purchasing the IP shouldn’t influence your FHOG ( if thats what your using for the apartment ?)
One shouldn’t influence the other. Do a check on this site re FHOG and you should find your state’s relevant website for FHOG, i recall All state’s posted here before.. or ‘Google it ‘
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
im with redwing
it is my understanding that the the fhog and First Home Plus (stamp duty concessions) are very independent and eligibility criterias are different.
best to visit office of state revenue website and read up on the 2.
julie
motmarich,
can I buy an investment property in the mean time and still claim the FHOG or do I have to wait until settlement???I am pretty sure you can still buy IPs now. Once your PPOR is settle which is in October 2004 you still be able to claim your FHOG. When you buy your IPs you own the IPs but you never live in it therefore you still able to claim you FHOG.
Below is the question and answer from OSR FAQ:
Q: I have owned an investment home previously. Can I still be eligible for the grant?
A person is not eligible if they or their spouse (including de facto spouse) has had a relevant interest in any residential property in Australia prior to 1 July 2000, whether they live in it or not.
However, a person may be eligible if they or their spouse (including de facto spouse) has only ever had a relevant interest in any residential property in Australia on or after 1 July 2000 and they have not resided in that property.
http://www.osr.nsw.gov.au/portal/page?_pageid=33,63440&_dad=portal&_schema=OSRPTLTMore informations as follows:
http://www.osr.nsw.gov.au/portal/page?_pageid=33,63391&_dad=portal&_schema=OSRPTLT
or
http://www.firsthome.gov.au/Previous discussion topics:
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=7951&SearchTerms=FHOG
and
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=9062&SearchTerms=FHOGGood luck.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
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