Hello I’m new to the forum so maybe this question may seem quite simple.
I’m in the process of looking for my first property which will be for investment.
My question is concerning a property that has a retail store on the ground floor with 2 bedrooms upstairs. Would the FHOG be allowed to be claimed for the purchase (if its a commercial property?)
And if i wasn’t allowed to get the FHOG because its a commercial property, does it mean I can still get the grant for when i purchase my first residential home.
Once again, hello to everyone on the forum [smiling]
My interpretation is that if you are buying a home and reside in it then you are entitled.
However I would recommend you contact your state’s administrator of the legislation and ask the question. Links to each state are on my website:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
If you don’t reside in the property and don’t get the FHOG then you will be entitled if you were to buy a home at a later date.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Mortgagehunter
That’s interesting and seems fair to me.
I was told by a mortgage broker that the grant wouln’t be available if i bought an IP first and then bought a PPOR.Are there any specifs to follow when setting up the IP so as to qualify later?
Cheers
Chad
With all due respect that legislation was changed some time ago and your broker should know that.
It is easy. Don’t live in the property and it will be an IP. FHOG will still be available for your home.
Check it out for yourself by following the links in my earlier post.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks for that, it really helps and in my situation of planning to buy an IP first it’s good news to hear.
cheers
Thanks Simon
Chad
[biggrin]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
