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first home buyer?

first home buyer?

Old Nov 6th 2006, 5:53 am
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Thumbs up first home buyer?

Hi every1.
A query: If i {main applicant} buy a house in perth and my spouse in adelaide, both in independent names. Do i and he get seperate first home buyer rebate.

What if me n him buy in same state -1 in city n other far off near beach in mine and his name respectively, will both houses get rebate.
enjoy the brain teaser.
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Old Nov 6th 2006, 6:10 am
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Default Re: first home buyer?

AFAI remember you actually have to live in the property for a certain period - I read about people getting caught out by claiming on investment property. This assumes you are/will be PRs (or citizens)

Of course there seems to be differing rules on just about anything in different states
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Old Nov 6th 2006, 7:07 am
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Default Re: first home buyer?

Originally Posted by walaj
AFAI remember you actually have to live in the property for a certain period - I read about people getting caught out by claiming on investment property. This assumes you are/will be PRs (or citizens)

Of course there seems to be differing rules on just about anything in different states
Yes, you have to live in the property for 6 months out of the first 12, and you're not allowed to sell it in those 12 months either (I think).

S
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Old Nov 6th 2006, 7:32 am
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Default Re: first home buyer?

Originally Posted by dolly123
Hi every1.
A query: If i {main applicant} buy a house in perth and my spouse in adelaide, both in independent names. Do i and he get seperate first home buyer rebate.

What if me n him buy in same state -1 in city n other far off near beach in mine and his name respectively, will both houses get rebate.
enjoy the brain teaser.
No. The first time homeowners grant is per family unit - spouses who are married. In order for you to both be eligible for the grant, you would have to be divorced.
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Old Nov 6th 2006, 7:40 am
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Default Re: first home buyer?

Interesting.... what about de facto spouses? I know it would be one loan if we bought something together, but what if a few years down the line ( assuming visas still secure) we bought a property each - do you forfeit your first-time-loan by having been in a relationship? & if such a dispute occured, who would they favour - which ex-partner would walk away with the loan?

(All of this is hypothetical! !)
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Old Nov 6th 2006, 8:04 am
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Default Re: first home buyer?

Originally Posted by esperanza
Interesting.... what about de facto spouses? I know it would be one loan if we bought something together, but what if a few years down the line ( assuming visas still secure) we bought a property each - do you forfeit your first-time-loan by having been in a relationship? & if such a dispute occured, who would they favour - which ex-partner would walk away with the loan?

(All of this is hypothetical! !)
Yes, you forfeit your first time grant by living in a defacto marriage. It's one grant per married unit. So, if you bought a house now being in a defacto, then your partner would be considered a spouse for the purposes of your purchase. He/she would therefore not be eligible for another grant later down the track. When you fill out your mortgage application your partner would be on that. It's the bank who would apply for the grant for you and they would be the ones to report the names of the applicants for the grant, unless you are buying mortgage free and then you would apply yourselves. Either way, you have to include the name of your spouse/defacto partner.
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Old Nov 6th 2006, 12:54 pm
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Cool Re: first home buyer?

Originally Posted by Dorothy
Yes, you forfeit your first time grant by living in a defacto marriage. It's one grant per married unit. So, if you bought a house now being in a defacto, then your partner would be considered a spouse for the purposes of your purchase. He/she would therefore not be eligible for another grant later down the track. When you fill out your mortgage application your partner would be on that. It's the bank who would apply for the grant for you and they would be the ones to report the names of the applicants for the grant, unless you are buying mortgage free and then you would apply yourselves. Either way, you have to include the name of your spouse/defacto partner.

What? No divorcing a descent, hard to find special person for lousy money.
Thanks all for throwing light on family as a unit thing.
I guess aus govt made the rule after lots of thought.
By the way , the zero tax limit should be increased from 6000$ to 12000$ . Or at least 10000$.
There goes my trying to save money.........................;;;:::;
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Old Jan 25th 2007, 4:34 pm
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Default First Homeowner Grant Questions

I have a small question too....

I am a would be new resident (136 independent visa not de-facto or partner) and my g/f owns a home already in Australia. If we were to buy together in Australia would I qualify for the grant? Or do i need to buy it seperately?
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Old Jan 25th 2007, 8:21 pm
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Default Re: First Homeowner Grant Questions

Originally Posted by mark213
I have a small question too....

I am a would be new resident (136 independent visa not de-facto or partner) and my g/f owns a home already in Australia. If we were to buy together in Australia would I qualify for the grant? Or do i need to buy it seperately?
You would not be eligible for the grant if you are buying with your girlfriend. In order to qualify none of the owners can have owned property in Australia.
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