Gotosteveg

Hello,

My father owns a set of apartments in Melbourne and has offered to give
me one. Even though no money will be changing hands, I would still like
to receive the first home buyers grant.

Does anyone know if this is possible?

Thanks,
Steve

NIGENABBY

Hi

Sad answer is no.

Quote "If the consideration of the home is less than $7,000 then the grant amount paid to the applicant will equal the consideration."

See http://www.firsthome.gov.au/

So if you pay nothing, you receive nothing. Better check though if you have to pay stamp duty on the transfer of the property, Vic rates are extortionate and you might get stung here!

Gotosteveg

Thanks for your response.

I imagine the authorities would be right onto this sort of thing, but I
was under the impression that there might be a way around it. After
all, I am 'buying' a property and forgoing any more grants in the
future.

The properties are currently owned by my father's company and he
believes that a "paper only" sale would suffice to get the grant.