FHOG

Viewing 6 posts - 1 through 6 (of 6 total)

fbd1
Member
@fbd1
Join Date: 2006
Post Count: 65
March 18, 2006 - 1:58 am
Hi there,
I have a question? What happens if you have never received the first home owners grant?
Background:
Married and bought 1st home in married name Smith- no FHOG.
Divorced & bought land & moved a relocataboe qlder in name of Smith-no FHOG.
Remarried & bought IP under new married name Burns-no FHOG.
Want to buy more property of course. But have wised up to how to structure my investments. Would I be able to claim that FHOG even though I have bought property already?[blink]
cbellesini
Participant
@cbellesini
Join Date: 2005
Post Count: 72
March 18, 2006 - 2:30 am
It will depend on the timing of your purchases. if they were bought post 1/7/00 you will be able claim the FHOG (as long as you qualify under under points). The below extract is taken from http://www.firsthome.gov.au check it out for more information
To qualify for assistance, neither the applicant nor their spouse (or de facto) must have owned a home prior to 1 July 2000, either jointly, separately or with some other person.
fbd1
Member
@fbd1
Join Date: 2006
Post Count: 65
March 18, 2006 - 3:27 am
I guess that cuts me out…bought first home in 1992-93 I think? With first husband (before we were married) Had Maiden name & smith on there. Niether of us knew about this grant, so I guess it doesn’t count?
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
March 19, 2006 - 12:00 pm
Grant didn’t exist back when you were a first home buyer.
You are no longer a First Home Buyer so no entitlement.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.
fbd1
Member
@fbd1
Join Date: 2006
Post Count: 65
March 20, 2006 - 8:31 am
Thanks Simon.
My brother is wanting to buy his first home. How does he go about getting the FHOG? Does this happen after the purchase of the property or whilst the contract is in place?
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
March 20, 2006 - 9:20 am
He can complete the FHOG application and submit it with his loan application in order to have it for settlement.
He can submit it to the OSR after settlement and receive the funds directly himself.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.