Thanks LEE for your response. How do you determine if someone has lived in that property for 6 months? Utility bills ? I mean if I were to list the entire property on Air BnB for a couple of weeks and not live there would that suffice the requirement? - My intent is to buy an investment property - List it on AirBnB and stay there occasionally (not 6 months consecutive) not full time. I dont intend to use my FHOG on this investment property.
Guys, are you reading the question properly before giving advice on this? Victoria’s State Revenue Office is responsible for offering the $10,000 grant to applicants buying or building their first new home. A $20,000 First Home Owner Grant is available to applicants buying or building a new home in regional Victoria valued up to $750,000. To be eligible for the grant, you must not have: Received a First Home Owner Grant in Australia Owned a home in Australia, either jointly or separately, prior to 1 July 2000 Occupied an Australian home in which either of you acquired a relevant interest on or after 1 July 2000 for at least six continuous months So if you purchased your investment property on or after 1 July 2000 and you didn’t live in it for a period of six consecutive months, you may be eligible for the FHOG. Check the other eligibility criteria for more information.
Hi Mohammed, No you won't get the FHOG if you buy an investment property. You have to live in it and it has to be your own home. Investment properties do not qualify and you will lose your FHOG if you buy an investment property before your OWN home. Kind regards. Lezli
Hi Mohammed. I think this is a question for your accountant or the State Revenue Office but I have had many clients who have purchased multiple properties and then still qualified for the First Home Buyer Grant. As long as you haven't bought a property you have lived in then you will still retain the right to claim the First Home Buyer benefits when you eventually buy a place to live in. Hope that makes sense! But check out the SRO website for more info or give them a call. They are really helpful :)
Hi Mohammed, Unfortunately, if you purchase an investment property, you will not be eligible for the first home owner stamp duty concession. Also, it has to be purchased under your name and not in a trust. Please contact me and I will explain in details how all works. Regards, Daniel
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Note one ambiguous line : "Lived in a home in Australia which either of you owned or part-owned on or after 1 July 2000, for a continuous period of at least six months." So it might work for you but I'd check with them to be sure!