FIRST HOME OWNERS GRANT BOOST
There have been major government initiatives in boosting FIRST HOME OWNERS GRANT for purchases of property from 13 October 2008 to 30 June 2009.
As a result for first home buyers the combination of First Home Owners Grant, First Home Owners Boost & Principal Place of Residence stamp duty reduction, means benefits ranging from:
-$26,000 to $32,000 for new homes, and
-$17,000 to $20,000 for established homes.
Please contact our Property Department for specific advice.
Some very positive and overdue changes to the laws for Foreign Investors now include the following allowance :
-students may now purchase an established or second hand property over $300,000
-no requirement for students to sell the property once they have completed their studies
-short term work visa and other visa holders may now purchase a property for self occupation without government approval and can hold onto the property as an investment, even after their visa expires
-serviced apartments and hotel units, new or second hand, are now classified as 'commercial" property and therefore can be purchased by foreigners at any time without specific government approval
Please contact our Property Partner Bruno Alderuccio for specific advice on your situation.
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