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DUTIES ACT 2001 - SECT 86 What is a home and a first home

DUTIES ACT 2001 - SECT 86

What is a home and a first home

86 What is a home and a first home

(1) A residence is a person’s
"home" if the person’s occupation date for the residence is within 1 year after the person’s transfer date for the residential land.
Note—
For transfer duty to be imposed for residential land, it must be in Queensland, see section 10 (1) (a) .
(2) A person’s home is the person’s
"first home" if, before acquiring the home
(a) the person did not hold, and never before held, an interest in other residential land in Queensland or elsewhere other than—
(i) as trustee for another person; or
(ii) as lessee; or
(iii) as the holder of a security interest; and
(b) the person was not, and had never been, a vacant land concession beneficiary in relation to land other than the residential land on which the home is constructed.
(3) Subsection (2) (a) (ii) does not apply to the interest in land of a lessee of a lease—
(a) of residential land on which a home or first home is constructed; and
(b) for which a premium, fine or other consideration is payable.