[NSW]Is this true? Can I claim a First Home Owners exemption even if I own property?

Discussion in 'Legal Issues' started by Shawn, 25th Oct, 2017.

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  1. Shawn

    Shawn Well-Known Member

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    Hi guys,

    Was just reading through domain yesterday and came across this article by Jennifer Duke.

    Investors can own multiple properties but still be eligible for first home buyers benefits.

    I own 2 investment properties currently and am looking at getting into my own here in Sydney. I have never lived in any of them nor do I want to (they are interstate).

    If this is true, my shopping lights have just turned green and I'd be ready to rumble.

    Cheers,
    Shawn
     
    Shawn, 25th Oct, 2017
    #1
  2. Propertunity

    Propertunity Well-Known Member

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    Yes it is true.
     
    Propertunity, 25th Oct, 2017
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Provided you haven't claimed FHOG, stamp duty concession, lived in one of your ips or with any partner who has done.
     
    Scott No Mates, 25th Oct, 2017
    #3
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Important that each person seek legal advice specific to their issues as OSR now diligently seek instances of repeat claims. Typically the duty rules require occupancy for 6mths minimum and that is also the criterea for a first home buyer. They are also very familiar with partners / spouses etc who may each seek to double dip
     
    Paul@PAS, 25th Oct, 2017
    #4