I'm not quite sure what you mean... by: ELizabeth Elwell-Cook
Hi Derek,
I'm not sure what you mean exactly by this question. Are you asking what happens if you decided to move out of your property after claiming the First Home Owners Grant, or are you asking what the ramifications are if you rent the property you claimed the FHOG on to someone else later?
If you are planning to rent a property for yourself again after claiming the First Home Owners Grant, then there's isn't a problem with this. You can rent again after claiming, but the forms you sign with your Office of State Revenue will prevent you from ever claiming the grant again on another property.
If, when you decide to go and rent (or buy) again after claiming the FHOG on your property, you rent your First Home Owners Grant property to a third party, there isn't a problem with this either if you follow one rule:
Your First Home can become an investment property, as long as you have lived in it for six consecutive months out of the first twelve months you owned it.
