The timing couldn't be worse. I've just reached settlement on my first property and did intend on making it an investment. I've paid stamp duty but due to corona everyone's spooked and I can't find someone to rent it. I'm thinking of I might as well just move in myself. Does this mean I get a refund on stamp duty as I would then meet the criteria for the first home buyers assistance scheme?
You need to be a member of 1Eyed Eel to add comments!
One of the greatest footballers of all time and Argentina's favourite son, Diego Maradona, has died in Buenos Aires at age 60. Regarded as one of the greatest players in the history of the game, Maradona became a household name after inspiring his…
Read more…The great man has passed awayafter a massive heart attack.RIP Diego Armando Maradona Franco.
Read more…I am guessing the polls are fake and Trump will get 300 electoral college votes - plus or minus 10.
Read more…1. Anthony Van Dyck (3)58.5kgJ: Hugh BowmanX2512T: A O'brien7.50 9.00 8.50 9.00 8.50 9.009.003.00TFBOB11.103.50 2. Avilius (10)57kgJ: John AllenX4626T: James Cummings41.00 26.00 31.00 34.00 51.00 41.0041.0010.00TFBOB46.5013.60 3. Vow And…
Read more…
The Parramatta Eels can confirm Bryce Cartwright has signed with the Club on a one-year deal.Cartwright will commence training with the Club in time for the 2021 pre-season.The 25-year-old made his NRL debut with the Penrith Panthers in 2014 before…
Read more…If this bushwhack can't make top 4 hopefully he's sent back to bush footy !! He's had 7 years and 2 spoons had enough of this idiot there's no excuses
Read more…As you know the 2021 Draw has been released - https://www.parraeels.com.au/draw/I wanted to give my thoughts on the draw and why 2021 is going to be a massive test for our side to determine if we are true Premiership contendors or not. By looking at…
Read more…(H) - Home Game(A) - Away Game Round 1: vs Broncos at Suncorp Stadium, Friday 7.55pm (A) Round 2: vs Storm at BankWest Stadium, Thursday 7.50pm (H) Round 3: vs Sharks at BankWest Stadium, Saturday 7.35pm Round 4: vs Tigers at BankWest Stadium,…
Read more…<script src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>
<!-- Sidebar -->
<p> </p>
<script>// <![CDATA[
(adsbygoogle = window.adsbygoogle || []).push({});
// ]]></script>
Replies
don't know about that but if you move in and make it your primary place of residence for more than 6 months then even if you then rent it out and claim negative gearing you may not have to pay capital gains if you sell - used to be that way - you would need to get proper advice
Thanks mate.
I know that itis the duty of a stamp to see your mail arrives safely at it's destination.
OK so you are playing the tax game to the max.
Buy and own property for investment but rent elsewhere.
In the current environment you have certainly landed in a shit heap.
If it was me and living in the house for next 12 months or so was not too difficult then do it.
Vacant for more than 60 days and any insurance you have on the investment/rental property is non existent (uninsured)
Here's the next scenario - IF you are umlucky enough to find a tennant to move in, in the near future, after a week or so they claim NO RENT because of employment due to Corrona virus and you cop it up the arse.
As for stamp duty I have NFI.
First Home Owner Grant should apply to you. There are a couple so check your eligibility. Visit Revenue NSW website and go to Grants. Assuming you are eligible, you must live in the home within 12 months of settlement for a period of 6 months minimum. If land only, you need to build a house ( I think within 2 years of settlement). Of course, if you keep as an investment then your are not entitled to any exemption nor concession. Best bet, check the Revenue NSW website