South Australian Consolidated Acts

FIRST HOME OWNER GRANT ACT 2000 - SECT 13

13—Eligible transaction

        (1)         An "eligible transaction is—

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

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

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

        (2)         A contract is a contract for the purchase of a home if the contract is a contract for the acquisition of a relevant interest in land on which a home is built.

        (3)         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)         in the case of 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)         in the case of a comprehensive home building contract—either party had a right or option granted before 1 July 2000 to require the other to enter into the contract.

        (4)         The "commencement date" of an eligible transaction is—

            (a)         in the case of a contract—the date when the contract is made;

            (b)         in the case of the building of a home by an owner builder—

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

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

        (5)         Subject to any qualifications prescribed by regulation, an eligible transaction is completed when—

            (a)         in the case of 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;

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

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

        (6)         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.

        (7)         The "consideration" for an eligible transaction is—

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

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

            (c)         in the case of 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).