I am relatively new to this property market. I have a query. My partner has a investment property in Vic. No FHOG was availed then. We are thinking of buying established propery as a owner occupied property in ACT. Would we be eligible for FHOG. Additionally is FHOG still available or that has been replaced by no stamp duty. Your answer on this subject will be very much appreciated. Cheers PA
It depends on the state. I know in WA it would still be possible to get the FHOG if the investment property has never been a PPOR.
It's a First Home Owner Grant, not a First Property Owner Grant. It is still available if you have already bought a property but have never treated it or used it as a PPoR. I've seen many people miss out on FHOG entitlements because they were incorrectly advised that they were ineligbile to apply (and thus never did) on the basis they had already purchased a property. There are caveats (such as specific ownership date exclusions), but generally you will be eligible if your existing IP was only ever an IP. Investors can own multiple properties but still be eligible for first-home buyer benefits Rentvesters may still be eligible for first home owner grants and duty concessions - Andrew
Marty many thanks for your reply. Before leaving sarcastic comments. At least ensure you fully grasp the entire comments, before making judgements. I explicitly made sure that no FHOG was availed in buying the investment property and paid full stamp duty on it. So I can buy a first home where ever is it not.
Mate to get a definite answer i would just call up the state revenue and find out yourself directly from that department .
Hello All, I am not familier with the latest rules as out of touch and one if our family member asked me few things and would like to assist/help them and was searcing online and came across this :- "Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse: have previously owned or co-owned a home in Australia or have received an Australian first home owner grant. You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months." Current State:- family friends are couple with 2 kids and Husband owned an IP property many years ago but wife never had any name on it. However wife and husband both owns their business jointly and now thinking to get into property market. If She(wife) only put the property under her name, will.she be abke to het FHOG or any other benefits around stamp duty etc in NSW? Also, can the loan be under both Husband and Wife to increase borrowing capacity but peopwrty be only under one name? Just seeking wome upto date and simple justification. @Terry_w had a thread where he talks about bwnefits if having property under one partner name somehow I am unable to find via search option (perhaps wrong keywords)!? Appreciate the help!
Is this the one: Strategy: Buy the Main Residence in One Name only Strategy: Buy the Main Residence in One Name only Keep in mind a few things have changed this I wrote this
I would argue the best opinion is to make specific enquiries as to eligibility. The information provided is insufficient. Obtaining advice through a chain of people and with limited information is dangerous. eg are the friends a citizen or perm resident ? Even as a PR, is foreign purchaser surcharge a issue ? OSR NSW can directly address a request. Many lenders have policies concerning property in one name and loans with two borrowers. A broker can address that. Some lenders used to allow 1% / 99% and now some wont. Better to be well armed with full knowledge prior to buying so that the grant, duty concessions and borrowing issues are understood well ahead of any contracts being signed.
I can confirm that you probably are still eligible for the first home buyer benefits if you've previously owned an IP, as long as you've never lived in the IP. If in doubt, contact the relevant State Revenue Office. If your partner has owned a property they've lived in previously, you are no longer eligible for the grant. You only get it once per couple. Lenders see this ownership as an arrangement of convinience (which it usually is) unless it's between spouces. The won't accept it and generally require at least a 90%/10% split.
@Paul@PFI and @Peter_Tersteeg Thank you for your input. They are citizen here and run their own business (Motel). Husband had a property (my understanding an IP but will confirm if he claimed any FGOG in 2002) before marriage and sold it couple of years ago.
