Northern Territory Consolidated Acts

FIRST HOME OWNER GRANT ACT - SECT 13

    (1)     An eligible transaction is:

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

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

        (c)     the building of a home in the Territory 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.

    (5)     The commencement date of an eligible transaction is:

        (a)     in the case of a contract for the purchase or construction of a home – the date when the contract is made; or

        (b)     in the case of the building of a home by an owner builder other than a transaction to which subsection (7) applies:

            (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; or

        (c)     in the case of a transaction to which subsection (7) applies – the date referred to in subsection (7)(b).

    (6)     Subject to any qualifications prescribed by regulation, an eligible transaction is completed:

        (a)     in the case of a contract for the purchase of a home, when:

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

        (c)     in the case of the building of a home by an owner builder other than a transaction to which subsection (7) applies – when the building is ready for occupation as a place of residence; or

        (d)     in the case of a transaction to which subsection (7) applies – when the event referred to in subsection (7)(c) occurs.

    (7)     If a person purchases a 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 to be taken to be the date of the contract to purchase the building; and

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

    (8)     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; or

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

        (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).

    (8A)     The consideration for an eligible transaction does not include rent given for a lease or sublease mentioned in section 5(2).

    (9)     The consideration for an eligible transaction includes any GST payable in relation to the transaction.