New South Wales Consolidated Acts

FIRST HOME OWNER GRANT ACT 2000 - SECT 18A

18A First home owner boost for new homes

(1) For the purposes of this Act, an eligible transaction qualifies for the first home owner boost for new homes if it qualifies for the first home owner boost for new homes under this section.

(2) An eligible transaction that is a contract for the purchase of a new home (other than a contract for an “off-the-plan” purchase of a new home) qualifies for the first home owner boost for new homes if the contract is made on or after 14 October 2008 and on or before 31 December 2009.

(3) An eligible transaction that is a contract for an “off-the-plan” purchase of a new home qualifies for the first home owner boost for new homes if:

(a) the contract is made on or after 14 October 2008 and on or before 31 December 2009, and

(b) the contract states that the eligible transaction must be completed before the required completion date or, in any other case, the eligible transaction is completed before the required completion date or by such later date as the Chief Commissioner may allow for delay caused by circumstances beyond the control of the parties.

(4) An eligible transaction that is a comprehensive home building contract to have a home built qualifies for the first home owner boost for new homes if:

(a) the contract is made on or after 14 October 2008 and on or before 31 December 2009, and

(b) the laying of the foundations for the home begins within 26 weeks after the contract is made, or any longer period the Chief Commissioner may allow for delay caused by circumstances beyond the control of the parties, and

(c) the building work is completed within 18 months after the date the laying of the foundations for the home begins, or is completed within such longer period as the Chief Commissioner may allow for delay caused by circumstances beyond the control of the parties.

(5) An eligible transaction that is the building of a home by an owner builder qualifies for the first home owner boost for new homes if:

(a) the commencement date of the eligible transaction is on or after 14 October 2008 and on or before 31 December 2009, and

(b) the transaction is completed within 18 months of the commencement date, or is completed within such longer period as the Chief Commissioner may allow for delay caused by circumstances beyond the control of the owner builder.

(6) However, an eligible transaction that is a contract does not qualify for the first home owner boost for new homes if the Chief Commissioner is satisfied that:

(a) the contract replaces a contract made before 14 October 2008, and

(b) the replaced contract was a contract for the purchase of the same home or a comprehensive home building contract to build the same or a substantially similar home.

(7) In this section:
"contract for an “off-the-plan” purchase", of a new home, means a contract for the purchase of the home on a proposed lot in an unregistered plan of subdivision of land.
"new home" means a home that has not been previously occupied or sold as a place of residence, and includes a substantially renovated home and a home built to replace demolished premises.
"required completion date" means:

(a) for a contract made on or after 14 October 2008 and on or before 30 June 2009, 1 January 2011, or

(b) for a contract made after 30 June 2009 and on or before 30 September 2009, 31 March 2011, or

(c) for a contract made after 30 September 2009 and on or before 31 December 2009, 30 June 2011.

(8) For the purposes of this section, a home is a "substantially renovated home" if:

(a) the sale of the home is, under the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, a taxable supply as a sale of new residential premises within the meaning of section 40-75 (1) (b) of that Act, and

(b) the home, as renovated, has not been previously occupied or sold as a place of residence.

(9) For the purposes of this section, a home is a "home built to replace demolished premises" if:

(a) for an eligible transaction that is a contract for the purchase of a home-the sale of the home is, under the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, a taxable supply as a sale of new residential premises within the meaning of section 40-75 (1) (c) of that Act, and

(b) for an eligible transaction that is a comprehensive home building contract to have a home built or the building of a home by an owner builder-the home is, under the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, new residential premises within the meaning of section 40-75 (1) (c) of that Act, and

(c) the home, as built to replace the demolished premises, has not been previously occupied or sold as a place of residence, and

(d) the owner of the home did not occupy the demolished premises as a place of residence before they were demolished.