As I don't qualify as a FHB, I was asked by an acquaintance who purchased their first house today whether they would qualify for the grant? The only twist is that they have bought several properties for redevelopment, own several commercial properties and have never lived out of the parental home.
How, if they qualify, do they go about registering for the FHBG?
if the several properties they own are commercial then yes they can get the fhbg if they own resi then i dont think they can. they need to ask ther bank/broker and lawyer and they will sought this out for them
This should explain it.
http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes_firsthome_bonus_regional.htm
They should be able to get it. Investment properties don't count. Only personal residence.
Is there a ceiling on the cost of the block in NSW? They paid over $1m
Not sure if there is a cap in NSW, but they definitely won't get the stamp duty exemption.
A freebie is a freebie esp when Ruddbank et co. is giving it away.
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