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First Home Owner Grant (FHOG)
The FHOG was introduced to assist eligible first home owners with the acquisition of their first home. In order to qualify for the FHOG an applicant must comply with certain eligibility criteria and enter into and complete an eligible transaction.
The eligibility criteria include the requirements that the applicant is a natural person, at least 18 years of age, an Australian citizen or permanent resident, has not received an earlier grant, does not have a prior relevant interest in residential property and meets the residence requirement.
Commonly identified errors are:
Failing to disclose that the property is an investment property and is to be leased
Failing to advise when circumstances have changed and the applicant cannot meet the residence requirement timeframes
Misunderstanding the residency requirements; for example believing:
that as long as the FHOG property is left vacant for 6 months and not leased, the residency requirement is met
that renovating the FHOG property while using another residence to cook, shower, sleep etc complies with the requirements
that living in the FHOG property for a period of less than 6 months is acceptable
Failing to disclose a domestic partner/spouse
Failing to disclose that they, or their domestic partner/spouse, received a prior grant or had a prior relevant interest in residential property
Failing to disclose previous names, including previous married name(s)
Purchasing the FHOG property in a child's name, with the consideration for the property paid by parents |
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