Help please.....thinking of renting out our house we recently bought in Oz...

[Nom&Nat]

Hello Folks

Recently bought a wee house up in Queensland and was going to be moving into it in June 2008 but now might rent it out for a few years. Can anyone help me with the Pros and Cons of this undecided decision????? We have our PR Visa validated and its now open until April 2011. What tax implications will we incur if we rent out now? I know we will lose our FHOG but will we have to repay some Stamp Duty as we only paid 1% of the property? Any other tips on renting out would be greatly appreciated!!!!!!

Thanks

Nom & Nat

[BullcreekBob]

Originally Posted by Nom&Nat

Hello Folks

Recently bought a wee house up in Queensland and was going to be moving into it in June 2008 but now might rent it out for a few years. Can anyone help me with the Pros and Cons of this undecided decision????? We have our PR Visa validated and its now open until April 2011. What tax implications will we incur if we rent out now? I know we will lose our FHOG but will we have to repay some Stamp Duty as we only paid 1% of the property? Any other tips on renting out would be greatly appreciated!!!!!!

Thanks

Nom & Nat

G'day

I thought you didn't get First Home Owners Grant because you've owned a home previously? Or did you get some sort of special dispesation?

Curious in Bull Creek