DibDob

Hi Guys i know there have been other threads on this but none of them really give a dfinitive answer.

This could definately make me decide where to emigrate to adelaide or brisbane due to the huge diffrence in stamp duty rates.

Will I be able to claim this grant in australia on my first house i purchase. Even if i have owned a home in the Uk? (if so this would offset the higher stamp duty in SA)

Many Thanks

Bubbles

Hi

you can get first time homewowners if you are buying your first house in Australia. Not sure about stamp duty but to pay the minumum in qld you had to be buying your first house ever (they ask if you have owned a house anywhere before)

Tracy

ABCDiamond

Buying a House : Stamp Duty

I did these figures in 2008, for the same purchase price.

QLD - $ 4,397
..
SA - $13,312


First Home Buyers Stamp Duty Concessions
First Home Buyers may be exempt from Stamp Duty in many cases, but this will depend on the value of the property being purchased, and possible State based conditions.

Each State has a threshold, under which a First Home Buyer will pay reduced stamp duty rates or none at all.

Rates as at July 2008:

QLD - $500,000 or less = No Duty : $550,000 or more = Full Duty
..
SA - $ 80,500 or less = No Duty : Over 250,000 = Full Duty

QLD
A person's home is a first home if, before acquiring the home, the person did not hold and has never before held an interest in other residential land in Queensland or elsewhere

SA
No party to the application may have previously occupied a dwellinghouse, holiday house, flat or home unit (except as a minor) either in South Australia, Australia or elsewhere


First Home Owners Grant for Home Buyers in Australia

Some of the criteria to be satisfied for eligibility for the First Home Owners Grant (FHOG)

You and your spouse/partner must not have previously received a grant in any other State or Territory of Australia.

You and your spouse/partner must not have owned any residential property, either jointly, separately or with some other person prior to 1 July 2000, in any State or Territory of Australia.

At least one applicant must be a permanent resident, or Australian citizen, at the time of settlement or completion of construction of the home .

looky

Sellers factored in the first time owner's grant into their selling prices when it went up. Most times you're essentially not gaining any price advantage from the grant.

paulry

Thanks for that ABCDiamond. Are there any conditions post first time buyers grant?

paulry

I've noticed the same kind of thing with nursery school vouchers in the UK: The vendors/service providers hike up their rates.

spottydog

When we got our grant (3 years ago) we had to send back a form within about 18 months to prove we had been living in the home for at least 6 months (i.e. utility bills, bank statements)

paulry

Only 6 months? One strategy that we're thinking of is buying an apartment for cash, living in it for up to a year and then getting a mortgage and buying a house - at which point we would let the apartment out. Would this eliminate us from eligibility for the first time buyers grant on the apartment?

ABCDiamond

Eligibility for the First Home Owners Grant
Some of the criteria to be satisfied for eligibility for the First Home Owners Grant (FHOG)

• At least one of the applicants must occupy the home as their principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either settlement or completion of construction.

DibDob

Thanks all

However i am still not sure if i am entitled to the first home buyers grant?

Has anyone claimed this had direct experience?

Does me owning a home in the uk disqualify me from this grant?

spottydog

As long as you (and anyone else you are buying with) hasn't owned a home in Australia you get the First Home Owners Grant from the federal government.

We had a couple of houses in the UK before moving here and received the FHOG.

As you are planning on living in the apartment for a year you will meet the 6 months residence starting within a year of taking ownership criteria to.

DibDob

Thanks, that makes it clear then We plan to purchase and live in our house for years (as long as it works out)

Swerv-o

Unless it's in Queensland.

I believe that the QLD state treasury apply an 'Anywhere' i.e. worldwide - clause to the eligibility criteria, where other states and territories only apply an 'in Australia' clause.

So if you have owned a property in the UK, you would be ineligible for first homeowner benefits in QLD, but still be eligible in any other state or territory.

This may have changed since it was last discussed, so it's probably worth checking.


S

MartinLuther

SpottyDog is right. You get the federal one. The Qld rules don't apply to that they only apply to the state grant.

Swerv-o

Yes, looks like you're right. It's the stamp duty concession that has the 'Anywhere in the world' clause, not the Federal money.

Still, that could be quite costly if you were expecting to get the full concession.


S