7/9 Using your DHOAS Lump Sum: What you need to know!

Welcome back to our series, “Understanding Your ADF Housing Entitlements,” where we’re dedicated to uncovering the hidden gems within your financial journey. Today, we’re turning our focus to a potent tool that can make a significant impact on your financial foundation – the Defense Home Ownership Assistance Scheme (DHOAS) Lump Sum.

DHOAS Lump Sum: A Path to Enhanced Financial Strength

The DHOAS Lump Sum is a key element that you should explore as part of your financial strategy. If you’ve completed your qualifying period and accrued entitlement to DHOAS, you might be eligible for a lump sum payment, providing an opportunity to bolster your financial position.

Understanding the DHOAS Lump Sum

With the DHOAS Lump Sum, you have the ability to convert up to four years of your service credit into a lump sum payment. However, it’s important to note that the lump sum is calculated based on the Tier 1 subsidy, regardless of your eligible tier. At present, the Tier 1 subsidy is $521, making a 4-year lump sum payment worth $25,000.

Guidelines for DHOAS Lump Sum Eligibility

To qualify for the DHOAS Lump Sum, there are certain criteria to consider:

You must not have purchased a property previously as either your primary home or an investment property.
The lump sum payment will not be disbursed prior to the settlement of a property, and therefore, it cannot be used as an upfront deposit. In such cases, you would need to manage the deposit through your cash flow.

Exploring the Potential

By tapping into the DHOAS Lump Sum, you’re embarking on a journey of financial empowerment. This sum can serve as a stepping stone to achieve your goals, whether it’s boosting your investment portfolio, paying down your mortgage, or securing your financial future.

Stay tuned for guidance as we coach you through the process of assessing your financial position and determining how to strategically play your entitlement cards.

~Integrity Team

Join our weekly webinars

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

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.