All Topics / Finance / Help please! Want to purchase first home in Australia as PPOR, has lease, do I still pay Stamp Duty?

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of MElzeyMElzey
    Member
    @melzey
    Join Date: 2011
    Post Count: 2
    July 4, 2011 - 10:30 pm

    Hey guys,
    My husband and I are wanting to purchase our first home here in Australia, as a PPOR, however it has a 12 month lease in place. The situation here in Moranbah is very unique, and most properties for sale have long leases already in place. Would we still be eligible for exempt of stamp duty and the first home owners grant? How should I go about this?
    Cheers

    Profile photo of ksherwellksherwell
    Member
    @ksherwell
    Join Date: 2007
    Post Count: 125
    July 4, 2011 - 11:44 pm

    Very hard, as you are aware you need to live in the PPOR within six months of settlement.

    You could have a long settlement of 6 months and move in at the end of the lease.

    Its the purchase date which is important.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 5, 2011 - 12:02 am

    Hi Melzy

    Hate to say Kane is not quiet right.

    To qualify for the FHOG you need to occupy the property for 6 continual months within the first 12 months from settlement.
    This means nothing to stop you moving in 364 days after Settlement.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.