First Home Buyers Grant - Residency question

Discussion in 'Legal Issues' started by Aley, 24th Aug, 2019.

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  1. Aley

    Aley New Member

    Joined:
    24th Aug, 2019
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    Hi all.
    I was wondering if anyone could help with clarifying the residency requirements when it comes to the First Home Buyers Grant in Western Australia.
    I know that I am required to live in the home for 6 consecutive months, within 12 months of the completion of the eligible transaction.

    But what is classified as the "completion of the eligible transaction"? Is this the date that the payment was made? The date that the property transferred into my name?

    I have been living in the house for 18 years as a rental. Purchased the property in March this year, and received the FHBG payment in June.I am looking to move interstate, but I don't want to break the requirements and have to refund the payment. So I was wanting to know exactly what my timeline options are.

    Thank you for your time.
     
    Aley, 24th Aug, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Completion is generally the settlement date, but you should confirm
     
    Terry_w, 25th Aug, 2019
    #2