The threshold GF to Grandchild is 49K,so if the site is valued higher than this there is CAT at 20%,whereas your threshold with your father is 496k
It does not affect the first time buyer status.
Edit: Inheriting is not buying!
Neither is an investment property such as a block of offices a residence yet its been said before that purchasing one disqualifies one from FTB. So can someone purchase land and still qualify for FTB ? Whats the revenues' definition of 'residence' ?
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