Hope you can respond. Do you reckon we will loose lafha if we buy land yet do not intend to build for another year/year and a half plus, we will still be renting for that time.
Many thanks Cazzy
Posts: 33 | Location: Geelong | Registered: 10 September 2005
I think this question was asked before and answred by Alan.
I recall his response was along the lines of buying property with the intent to live in it, is an indication that you do not intend to return to your home country, and therefore is a reason for LAFHA to be discontinued.
Perhaps you should seek the advice of the ATO to make sure.
On a separate note, you do appreciate that buying property as temporary residents means that you will miss out on considerable amounts of government support that you would be entitled to once you have a permanent visa (assuming of course you are going to apply for PR in due course).
Hope this helps.
Colin
Posts: 677 | Location: Sydney | Registered: 18 November 2005
Just a quick reply. All sorted with land enquiry with company and they happy that as we possibly buying land and not planning to build for a year or more, still renting, that we can still have lafha. Yes we are planning to become residents before we build. Thanks for your reply.
Cazzy
Posts: 33 | Location: Geelong | Registered: 10 September 2005