The NSW Office of State Revenue (OSR) today issued a notification advising that from 2 March 2009, it is introducing Proof of Identity (POI) requirements for First Home Plus (FHP) applicants and their spouses (mainly exemptions from stamp duty on most contracts for first home buyers).
These POI requirements for FHP will be the same as those required for applicants in the First Home Owners Grant Scheme (these include documents from 4 categories - for example, birth certificates, citizenship certificate, current passport, Medicare card, evidence of applicant's residential address).
Knowing what new documents are required and when, can help a first home buyer smooth the whole process in applying for FHP benefits.
Whilst the current application form will be accepted by the OSR up to 19 April 2009, from 20 April 2009, only the new FHP application form with the POI requirements will be accepted.
Details, including guides and factsheets, are expected to be posted on the OSR's website soon.
First home buyers should be at least aware of these coming changes and ensure they're complied with. The last thing you want, as a first home buyer, is for a purchase to be delayed or compromised because the FHP benefit you're relying upon couldn't be processed and be ready for settlement due to incorrect or obsolete forms being completed and lodged.
Typically FHP application forms are processed by the first home buyer's solicitor or representative, whereas the application for the First Home Owner's Grant (FHOG) are processed by the buyer's lender or finance broker.
These POI requirements for FHP will be the same as those required for applicants in the First Home Owners Grant Scheme (these include documents from 4 categories - for example, birth certificates, citizenship certificate, current passport, Medicare card, evidence of applicant's residential address).
Knowing what new documents are required and when, can help a first home buyer smooth the whole process in applying for FHP benefits.
Whilst the current application form will be accepted by the OSR up to 19 April 2009, from 20 April 2009, only the new FHP application form with the POI requirements will be accepted.
Details, including guides and factsheets, are expected to be posted on the OSR's website soon.
First home buyers should be at least aware of these coming changes and ensure they're complied with. The last thing you want, as a first home buyer, is for a purchase to be delayed or compromised because the FHP benefit you're relying upon couldn't be processed and be ready for settlement due to incorrect or obsolete forms being completed and lodged.
Typically FHP application forms are processed by the first home buyer's solicitor or representative, whereas the application for the First Home Owner's Grant (FHOG) are processed by the buyer's lender or finance broker.
Here's a practical hint. As the POI documents are to be the same as those used in the FHOG application, as a first home buyer, it would be most helpful if you keep a duplicate set of certified copies of those same POI documents used in the FHOG application to give to your solicitors for use the in the FHP application.
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