Moving into my Investment Property QLD

Discussion in 'Introductions' started by PJMerc, 5th Jul, 2020.

Join Australia's most dynamic and respected property investment community
  1. PJMerc

    PJMerc New Member

    Joined:
    5th Jul, 2020
    Posts:
    1
    Location:
    Gooburrum
    I am buying a property as an Investment Property in QLD.

    My question is, if I buy this property with an Investment Loan and ask the tenants to leave within the first 6 months (end of their lease) and move into it myself, can I claim the first home concession on stamp duty even though I am purchasing as an investment loan?

    OR is there a set time for how long I have to put a tenant in it, or keep an tenant in it because I am purchasing under an investment loan? Or because it is my property - if there are no tenants in it, can I move into it right away and then rent it out later?

    I understand all the tax implications; rather I am interested in how the fact it ia am investment loan matters in relation to me living in it.
     
  2. Noobieboy

    Noobieboy Well-Known Member

    Joined:
    10th Aug, 2017
    Posts:
    2,172
    Location:
    Utopia
    My understanding is no concessions can be claimed if the property or part of there off has been disposed off before the claimant moves in. That includes all (sell, transfer, lease or otherwise grant exclusive possession) of all or part of the property before moving in.

    Someone got fined pretty hefty fine and had to repay for renting a room. Let alone the whole property.

    Give them a ring to clarify and get proper advice. Unless the fine is not scaring you.
     
    PJMerc likes this.