Kiwipaul

People here have mentioned the $7,000 FHOG, I think that if you rent it out to begin with you are ineligalbe to claim even if you do then move in within 12 months as it was bought as an investment property. The 12 month rule I believe is designed for people building a house to stop them stringing along the building over numerous years or never building anything in the first place.

Also in QLD the stamp duty you pay is about double for an investment property rather than somewhere you will live.

Plus any capital gain you make on the property (if an investment property) from the time you buy to the time you move in will incur a CGT bill. I belive this charge will be due in the tax year you move into the house.

darkless

That is not my understanding (in WA at least). My financial advisor said that so long as you move in within 12 months, whatever the status of the house (e.g. investment) prior to moving in, you get the $7000

JayDeee

Yep Mine said the same as Darkless'

Still getting the $7000 and no stamp duty for 1st time home buyers in WA up to the value of $220,000.

Cheers
Kala

bubby

hi i know this is an old thread but anyone of you all on this thread or anyone who has done an investment mortgage, can you tell me if you did get your $7000 1st time homebuyers grant .I been told as some of you have that as long as you move in within 12 mouths we would get the $7000 .Also been told we could claim the stamp duty back ,which is a lot more because on a invesment mortgage as soon as we change the mortgage over to repayment one.Any help would be great
Thanks
bubby

bubby

Sorry guys need some advice.

thanks
bubby

bubby

Has anyone done investment mortgage and then change over to repayment mortgage and got $7000 any help would be great thanks bubby