Browse Forums Building A New House Re: Advice Plz - First Home Build as a duplex - Tax, Loans etc 8Feb 16, 2009 8:42 pm Quote: We are in queensland. We are de facto, so no chance of two separate grants. Nice thought though. Anyone who has not owned a home before can get FHOG but only one per home ie a couple (makes no difference if you are married, de facto, same sex or what) building / buying a home for both to live in gets one grant - if you are building 2 separate homes theoretically you could get a grant each if there were 2 separate contracts for 2 separate properties, one in each of your names (even though they are joined as duplexes) , however here is the catch....... You have to live in the home for at least 12 months so you would have to live in one and partner in the other, ie neither would be able to be rented out - the loss of rental income and no negative gearing, not to mention relationship inconvenience, probably negates any benifit Re: Advice Plz - First Home Build as a duplex - Tax, Loans etc 9Feb 17, 2009 8:32 pm Yeah, no good without the negative gearing. Thanks for the info though.
I will have a chat with the council on the subdivision requirement. I read through their online documents and it says that the land is suitable for duplexes as it is zoned Residential A. I didn't find anything mentioning subdivision at all. Another couple of questions if I may; Is it possible to build and complete one side considerably sooner than the other? Or must they both be "complete" to allow you to live in one? Can I make the loan on the investment side of the duplex be a much higher proportion of borrowings than the "home" side? i.e 70% of the borrowing on investment B and 30% on home B. Even though they both may have 50% of the actual building material cost. Thanks, Emptyvessel Re: Advice Plz - First Home Build as a duplex - Tax, Loans etc 10Feb 17, 2009 9:09 pm Here is the specific code for dual-occupancy, I can't see any reason for us having to subdivide except for sale at this point.
http://www.moretonbay.qld.gov.au/CSC-Sh ... pancy_Code Although how the valuation is affected by having them on the same land title is unknown to me. If so what were the "special circumstances" under which it was granted? "Note: If the development consent is for 'dual occupancy' an owner-builder permit can only be… 0 14366 the exemption applies only to your principal place of residence - so you must live in it. The 200 days is continuous. You also have to apply for the exemption. 2 13375 If it's your primary residence then there is no tax deductions to be made. 4 125428 |