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FHOG, Stamp duty - Residency Waiver options

Discussion in 'Real Estate' started by BuyingAHome, 15th Feb, 2011.

  1. BuyingAHome

    BuyingAHome New Member

    Joined:
    15th Feb, 2011
    Posts:
    2
    Location:
    NSW
    Hi, have searched the other threads and not found an answer to this question..

    I am a recent home buyer and have claimed both the FHOG and the stamp duty waiver (NSW).

    When I bought the unit I had every intention of making this property my primary place of residence for the foreseeable future.

    I am currently less than 1 month into completing the 6mth required residency period and I've received a fantastic career opportunity to relocate overseas for 2yrs - however I would have to relocate in May (way before I've completed my 6mths).

    I am happy to leave the place untenanted for the remaining 2 months of the required 6mths... but when i called the OSR they said that even if the apartment was vacant, i would still be in breach of the terms!

    I know that you can apply for a waiver from the OSR and i wanted to hear from anyone who had done this successfully...

    Or knew anything about the grounds on which one is granted....
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Technically you would be in breach the terms but I think as long as you treat the place as your PPOR and keep on paying for the connection of essential services you should be ok.
    None is stopping you from going on a 2 month holiday....
     
  3. BuyingAHome

    BuyingAHome New Member

    Joined:
    15th Feb, 2011
    Posts:
    2
    Location:
    NSW
    Thanks for the advice Bill.

    I would like to investigate options to do this legally if possible.

    My leaving the country during the residency period would definitely be a red flag to the OSR and may spur them into a more thorough review of my circumstances.
    The thought of having to pay back the grants is horrifying.