First Home Owner Grant Act 2000

The commencement date of a transaction is —

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

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

the date when laying the foundations for the home begins; or

another date (on or after 1 July 2000) the Commissioner considers appropriate in the circumstances of the case.

Subject to any qualifications prescribed by the regulations, a transaction is completed when —

in the case of a contract for the purchase of a home — the purchaser acquires the relevant interest in land on which the home is built; or

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

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

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

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

the commencement date of the transaction is taken to be the date of the contract to purchase the movable building; and

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