First Home Owner Grant Act 2000

An eligible transaction is a transaction —

with a commencement date on or after 1 July 2000; and

that has a total value that is less than or equal to any cap amount that applies —

in the case of a contract — on the commencement date; or

in the case of the building of a home by an owner builder — on the date the transaction is completed.

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

Unless the contract is declared under subsection (4) to be an eligible transaction, a contract is not an eligible transaction if —

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

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 party to enter into the contract.

The Commissioner may declare a contract to which, apart from this subsection, subsection (3) would apply to be an eligible transaction if the Commissioner is of the opinion that the contract does not have the effect of circumventing limitations on, or requirements affecting, eligibility for or entitlement to a first home owner grant.

A contract is not an eligible transaction if —

it is for the purchase of an established home; and

it has a commencement date on or after the day on which the Revenue Laws Amendment Act 2015 Part 2 Division 1 comes into operation.

If the commencement date of the building of a home by an owner builder is before the date the First Home Owner Grant Amendment Act 2009 section 9 comes into operation no cap amount applies to the transaction.