Sean and Louise

Hi,

Can you buy a property straightaway in Australia.
A friend in Sydney said you have to wait 1 year or you pay another type of tax on the property which is very expensive. Is this Correct?

Thanks Sean

windog

In part it depends on your type of visa. If you have a PR visa you can buy a house straight away, as though you are an "Australian" and you may also recieve a " first home buyers " grant. If you are on a temp visa (i.e. a 457) you can still buy a house straight away, but you have to gain agreement from the FIRB, (not I believe a big problem) it must be your primary residence, (you can't " buy to let") you have to accept you may have to sell immediately if you dont gain PR before the end of your temp visa, or if it is revoked due to failure to meet its conditins, and you wont recieve the first home buyers grant. I also belive you may pay more in stamp duty, as there is a grant applied to this as well

In short, if you are on a PR visa, house buying is pretty well the same as though you were an Aussie, if you are on a temp visa there are drawbacks, and extra costs ( or more exactly a you dont recieve the grants ) but it is not seriously difficult

Sean and Louise

Hi,

Yes my friends in Sydney are being sponsored by a company and are just in the process of applying for a permanent visa so i suppose the circumstances are different , i am applying for a 136 visa.

Thanks Sean

windog

I am not absolutely sure but I believe the grants can be applied for up to 12 months after the purchase, so if thier PR comes through in time they may still be eligeable

Pisces

Hi,

Could you let me know what a "first time buyers" grant is?
Thanks

sammyg

About $7000 if memory serves

Must be the first house you have bought in oz - or the uk i believe? (although i'm sure there are ways around the uk bit with a good mortgage broker)

Swerv-o

In NSW it's the first house in Australia.

There may be stamp duty exemptions too, depending on which state you are in.

S

windog

Nope, any house you have owned anywhere else in the world doesn't count, the grants apply to the first house you buy in Aus

Jacque

Read more about the grant and stamp duty concessions for NSW here:

http://www.osr.nsw.gov.au/portal/pag...schema=OSRPTLT