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…
This is a topic i have been dreading for years and been saying the issues for years. I need to write this down as the ideas presented recently are concerning for the NRL moving forward. To summarise, the NRL are looking at, once 20 teams are in, of…
Read more…Rugby league fans should follow this new podcast. Some of the long-term 1 eyed eel members might remember the host, John nubond. Guys, 1st Episode has now landed on Youtube . Click on Link below to watch full show . Give it a watch subscribe and…
Read more…The ARL Commission is exploring one of the biggest scheduling shake-ups in the code’s history in a move that could see the NRL have a 19-round premiership draw.This masthead can reveal the NRL is considering cutting the number of premiership rounds…
Read more…Eels trial games announced...Sunday 15th February at 6pm at Henson Park (briliant old league ground) VS SharksSaturday 21st Febraury at 6pm at Gosford VS Roosters
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