If you buy an investment property, do you lose FHOG eligibility?

To achieve the first home owners grant there are a number of rules around how long you can live in a property, the type and value of the property and whether or not your partner owns property.

Usually, no one is eligible for the grant if they or their partner have received the grant before. They must also not have owned a property that they have lived in.

However, if you have owned an investment property then in some areas this may be a different story and you may still be eligible for the grant. In many cases, if you held interest in a commercial property investment then this does not affect your ability to obtain a grant either.

When we look at the below scenarios, usually the same applies for the applicants spouse as well.

ACT

In the ACT you must “not have previously owned or held a relevant interest in a residential property anywhere in Australia prior to 1 July 2000.”

You must also have not occupied a residential property in which you held a relevant interest on or after 1 July 2000 but before 1 January 2004, nor have occupied a property for a period of at least six months in which you acquired a relevant interest on or after 1 January 2004.

NSW

“You or your partner have not previously owned residential property in any form in any State or Territory of Australia.”

NT

You must not have owned residential property in Australia prior to 1 July 2000 and not have occupied a residential property in Australia that you or your spouse owned on or after 1 July 2000.

QLD

“You or your spouse has not previously owned property in Australia.”

SA

You and your partner must not have owned residential property jointly, separately or with some other person before  1 July 2000 anywhere in Australia. And you must not have lived in a property for a continuous period of six months in which you had an interested on or after 1 July 2000.

TAS

You must not have owned and occupied a property for more than six months after 1 July 2000.

WA

You cannot have owned property anywhere in Australia prior to 1 July 2000. You can not have owned property, and have lived in it, for six continuous months on or after  from 1 July 2000.