Australian Capital Territory Consolidated Acts

FIRST HOME OWNER GRANT ACT 2000 - SECT 13

    (1)     An "eligible transaction" is—

        (a)     a contract for the purchase of a home in the ACT made on or after 1 July 2000; or

        (b)     a comprehensive home building contract made on or after 1 July 2000 by the owner of land in the ACT, or a person who will on completion of the contract be the owner of land in the ACT, to have a home built on the land; or

        (c)     the building of a home in the ACT by an owner-builder if the building work begins on or after 1 July 2000.

    (2)     However, a contract is not an eligible transaction if the commissioner is of the opinion that it forms part of a scheme to circumvent limitations on, or requirements affecting, eligibility or entitlement to a first home owner grant and the commissioner will, unless satisfied to the contrary, presume the existence of such a scheme, if—

        (a)     for a contract to purchase a home—the purchaser had an option to purchase the home granted before 1 July 2000 or the vendor had an option to require the purchaser to purchase the home granted before that date; or

        (b)     for a comprehensive building contract—either party had a right or option granted before 1 July 2000 to require the other to enter into the contract.

    (3)     The commencement date of an eligible transaction is—

        (a)     for a contract—the date when the contract is made; or

        (b)     for the building of a home by an owner-builder—

              (i)     the date when laying the foundations for the home begins; or

              (ii)     another date the commissioner considers appropriate in the circumstances of the case.

    (4)     Subject to any qualifications prescribed under the regulations, an eligible transaction is "completed" when—

        (a)     for a contract for the purchase of a home—

              (i)     the purchaser becomes entitled to possession of the home under the contract; and

              (ii)     if the purchaser is to obtain a registered title to the land on which the home is situated—the necessary steps to obtain registration of the purchaser's title have been taken; or

        (b)     for a contract to have a home built—the building is ready for occupation as a place of residence; or

        (c)     for the building of a home by an owner-builder—the building is ready for occupation as a place of residence.

Note     For when certain transactions related to moveable buildings are completed, see s (5).

    (5)     If a person purchases a moveable building and intends to use it as a place of residence on land in which the person has a relevant interest but on which it is not situated at the time of purchase—

        (a)     this Act applies as if the person were an owner-builder building a home on the land; and

        (b)     the commencement date of the transaction is taken to be the date of the contract to purchase the moveable building; and

        (c)     the transaction is taken to be completed when the moveable building is ready for occupation as a place of residence on land in which the purchaser has a relevant interest.

    (6)     The consideration for an eligible transaction is—

        (a)     for a contract for the purchase of a home—the consideration for the purchase; or

        (b)     for a comprehensive home building contract—the total consideration payable for the building work; or

        (c)     for the building of a home by an owner-builder—the actual costs to the owner of carrying out the work (excluding any allowance for the owner-builder's own labour).

    (7)     In this section:

"comprehensive home building contract" means a contract under which a builder undertakes to build a home on land from the inception of the building work to the point where the home is ready for occupation and if, for any reason, the work to be carried out under such a contract is not completed, includes any further contract under which the work is to be completed.

"contract for the purchase of a home" means a contract for the acquisition of a relevant interest in land on which a home is built.

"option" to purchase includes a right of pre-emption or a right of first refusal.

"owner-builder" means an owner of land who builds a home, or has a home built, on the land without entering into a comprehensive home building contract.

Note     For when a person is taken to be an owner-builder in relation to a moveable building, see s (5).