5/9 Discovering HPSEA. Empowering Your Property Journey

Welcome back to our ongoing journey through “Understanding Your ADF Housing Entitlements.” Today, we’re excited to illuminate a unique card in your entitlement deck – the Home Purchase or Sales Expenses Allowance (HPSEA). This powerful scheme is designed to ensure that your commitment to serving your country does not come at the cost of homeownership privileges.

Discovering HPSEA: Empowering Your Property Journey

The Home Purchase or Sales Expenses Allowance (HPSEA) recognises the sacrifices of being posted in various locations every two years and offers compensation by reimbursing you for the expenses associated with selling and purchasing a home in your new posting locality.

Whether you’re serving full time or have previously been part of the ADF, you could be eligible for HPSEA. Reservists can access this allowance by being on continuous full-time service for a year or more. HPSEA operates within a sell-purchase-sell cycle, providing you the means to reclaim costs when you’re transferred.

Navigating HPSEA Qualifications and Timelines

To qualify, you must buy or sell a home within specific timeframes. If you’ve made an eligible purchase and are posted to another location, you have two years to sell your old home from the date you receive official written notice of the posting. Additionally, you have four years after you start duty at the new location to purchase a home. The reimbursement claim can be filed after the purchase is completed.

Reclaiming Your Costs

Consider this scenario: You live in your current posting’s home, and then the ADF relocates you. By selling your old home and purchasing a new one in your new location, you can claim reasonable expenses related to both transactions. This includes agent’s fees, conveyancing fees, mortgage fees, and select government fees. It’s important to note that there are caps on certain reimbursement amounts.

A Hidden Treasure: Unlocking HPSEA Benefits

If you’ve previously bought or sold property while serving in the ADF, you may have the opportunity to claim HPSEA benefits. Many have heard of this scheme during yearly briefings but often overlook it. Right now, recognising these entitlements could mean significant financial gains for yourself or someone you know.

A real-life example: I learned about HPSEA and took action. I claimed one HPAS and two HPSEAs, leading to a remarkable $45,000 reimbursement. Discovering and using these entitlements made a meaningful impact on my financial journey.

Stay tuned for our next post, where we’ll delve into the Defense Home Ownership Assistance Scheme (DHOAS), providing you insights into how to make this scheme work for you.

Stay curious and empowered on your financial journey!

~Integrity Team

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Legal Disclaimer: This information ('the information') is presented for illustrative and educational purposes only. It is not presented nor should it be treated as real estate advice, legal advice, investment advice, or tax advice. All investments involve risk and potential loss of money. If you require advice in any of these fields you should contact a suitably qualified professional to assist and advise you. Your personal individual financial circumstances must be taken into account before you make any investment decision. We urge you to do this in conjunction with a suitably qualified professional. Daimien Patterson, IntegrityX Enterprises Pty Ltd, and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers do not guarantee your past, present or future investment results whether based on this information or otherwise. Daimien Patterson, IntegrityX Enterprises Pty Ltd and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers disclaim all liability for your purchase decisions. You should do your own independent due diligence and seek the advice of qualified advisors before making any investment decision.