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!
I posted this earlier on Hoe's blog, which was poor placement."Isn't it Ironic, Don'tcha think?
Read more…Parramatta has moved their pre season training to Lennox Head for this week.They have been warned that when your luck is out, you need to be very careful going into the surf! in Northern NSW.Parramatta officials are very wary of these danger's as…
Read more…Well we have been having a few dilemma's around here lately and I am getting confused, from what I can tell we have a lot of problems telling our left from our right. We don't have this problem at home because my wife is always right and I am…
Read more…As of Thursday, December 11, 2025, South Sydney Rabbitohs forwardKeaon Koloamatangi has reportedly agreed to a deal with the Parramatta Eels, but it is not yet officially announced by the clubs. Soon to be announced.
Read more…
He did more last night than Penisi has done in the last 2 years. Nanva and Samrani as our centre pairing would be good
Read more…When you pull defeat out of your arse that question posed is all you need to know..... we have been fortunate 4 winning games and probably all pulled out of our arses. No right to win any of them!We have been playing busted all year.....next week if…
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