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!
This Remberance Day let us also remember is up to it's eyeballs in a brave fight to survive against a superior attacking forceI have still never seen anything like the performance of a young Ukr warrior (Predator), with a go-pro on his head who…
Read more…https://www.zerotackle.com/nas-discusses-potential-eels-move-228804/?utm_campaign=Zero+Tackle&utm_medium=Social&utm_source=Twitter"The 29-year-old admitted he's uncertain whether his next chapter will be in the NRL, rugby union, or even away from…
Read more…https://www.facebook.com/groups/3766931310296395/posts/4292515377737983/
Read more…
Next week is our last Supporters Group Alliance meeting for the year, so if you have questions for the likes of Jim and Mark, get them in. As a reminder, the SGA is focused on the club's interaction with community, members and supporters on match…
Read more…Parramatta have launched discussions with the Gold Coast to sign strike centre Brian Kelly for the 2026 season.In the wake of star winger Zac Lomax’s sudden exit from the NRL club’s roster after just 12-months at the club, the Eels are aiming to…
Read more…Fantastic idea, congrats to everyone involved.https://www.facebook.com/reel/864145993036047/?fs=e&s=TIeQ9V&fs=e&fs=e
Read more…Anasta 24.10 min https://youtu.be/-Ly4UtWcy4g?si=FrcQ6McxrMSjS0icWatch the latest Anasta podcast- Straight from the horses mouth, " Parramatta - Ryles, never offered Jonah Pezet a long-term deal" He says Parramatta only ever wanted Pezet for one…
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