Hi Everyone
Just wondering if someone has had to go through this as well.
I bought my first place a couple of years ago but didnt realise I was eligible for the first home buyers assistance.
My questions is, is it too late to claim that considering i purchased it 2 years ago?
A stamp duty exemption/concession scheme called 'First Home - New Home' was around in 2016 - details here.
OP, assuming you meet/met the eligibility criteria, I would give Revenue NSW a call and see what they say. They may be able to process a re-assessment/refund of the stamp duty paid.
You may also have been eligible for the FHOG, so I would ask them about that as well (although the FHOG page indicates applications are required within 12 months of settlement).
sharka : Hello….I want to claim the The First Home Buyer Assistance
OSR officer : Thats fine sir, when did you buy the property?
sharka : 2 years ago.
OSR officer + colleagues : Dafuq LOL. <<click>>.
OSR Officer - please wait while I put you on hold
Background noise
Hey this guy wants to claim for a house he bought 2 years ago
If the government can pursue you for taxes owed in past years, why can't you seek a refund of tax overpaid in past years?
I hate you because you're making me defend the government, but:
You owe taxes according to legislation the moment the income is earned.
You're only entitled to grants/tax-deductions after you have applied and been approved for them.
In this case, OP never applied, so they're not entitled to them. They can seek special consideration because… reasons (the govt is actually pretty nice with this, if you're genuinely entitled to it they actually don't f—- you over because of technicalities) but the 2 years ago part is going to push even that.
the 2 years ago part is going to push even that.
Consistent with the Taxation Administration Act, the time limit for reassessment (and consequently for refunds) has generally been extended to 5 years from the date of assessment
(from here
@HighAndDry: Haha, I tried to fix my shi**y quoting but you replied too quick!
I think OP would be ok on that front, but FHBA and FHNH have/had different eligibility requirements (eg. price thresholds and FHNH only applying to new or substantially renovated properties) which I don't think OP would have been aware of, so may not actually be eligible anyway.
@djkelly69: Yeah - it could well be that OP sees the FHBA requirements and thinks they're eligible, but the reason they didn't get the FH-NH was because they just weren't eligible under those requirements. I think it being a new property was a requirement before and isn't now, and that tends to be a big deciding factor.
More likely the First Home - New Home to be honest - that's a stamp duty rebate scheme like the First Home Buyers Assistance Scheme. The FHOG is still the FHOG afaik.
Are you sure that even existed 2 years ago?