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This is a Bill, not an Act. For current law, see the Acts databases.
FIRST HOME OWNER GRANT AMENDMENT BILL 2009
2009
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
First Home
Owner Grant Amendment Bill 2009
Contents
Page
2009
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
First Home Owner
Grant Amendment Bill 2009
A Bill for
An Act to amend the
First Home Owner Grant Act
2000
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the First Home Owner Grant Amendment Act 2009.
This Act commences on the day after its notification day.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
This Act amends the First Home Owner Grant Act 2000.
4 Amount
of grantNew section 18 (2) to
(4)
insert
(2) However, this section does not apply if section 24B (Amount of
grant—certain eligible transactions) applies.
(3) Subsection (2) is a law to which the Legislation Act, section 88
(Repeal does not end effect of transitional laws etc) applies.
(4) Subsections (2) and (3) and this subsection expire on 1 July
2013.
5 Conditions
generallySection 21 (2)
(b)
substitute
(b) to repay the grant or part of the grant within a period stated in the
condition.
insert
Division 2.5A Amount of grant—certain
eligible transactions
24A Definitions—div 2.5A
(1) In this division:
comprehensive home building contract—see section 13
(7).
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 a subdivision of land.
contract for the purchase of a home—see section 13
(7).
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999 (Cwlth).
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.
owner-builder—see section 13 (7).
(2) For this division, a home is a substantially renovated
home if—
(a) the sale of the home is, under the GST Act, a taxable supply as
a sale of new residential premises within the meaning of that Act,
section 40-75 (1) (b) (Meaning of new residential premises);
and
(b) the home, as renovated, has not previously been occupied or sold as a
place of residence.
(3) For this division, 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 GST Act, a taxable supply
as a sale of new residential premises within the meaning of that Act, section
40-75 (1) (c); and
(b) for an eligible transaction that is a comprehensive home building
contract for a home or the building of a home by an owner-builder—the home
is, under the GST Act, new residential premises within the meaning of
that Act, section 40-75 (1) (c); and
(c) the home, as built to replace the demolished premises, has not
previously been 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.
24B Amount of grant—certain eligible
transactions
(1) The amount of the first home owner grant in relation to an eligible
transaction is $7 000 plus—
(a) if the eligible transaction qualifies for the first home owner boost
for new homes under section 24C—$14 000; or
(b) if the eligible transaction qualifies for the first home owner boost
for established homes under section 24D—$7 000.
(2) However, if the consideration for the eligible transaction is less
than or equal to the amount of the first home owner grant in relation to the
transaction, the maximum amount of the first home owner grant is the
consideration for the transaction.
Example
Sarah’s parents sold a home they owned in the ACT to her for $10 000.
The contract for the purchase is an eligible transaction, and the transaction
qualifies for the first home owner boost for established homes. Instead of
being paid a grant of $14 000, Sarah is paid a grant of $10 000.
Note An example is part of the Act, is not exhaustive and may
extend, but does not limit, the meaning of the provision in which it appears
(see Legislation Act, s 126 and s 132).
24C First home owner boost for new
homes
(1) 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 30 June 2009, or a later
date prescribed by regulation.
(2) Also, 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—
(a) if the contract is made on or after 14 October 2008 and on or before
30 June 2009, or a later date prescribed by regulation; and
(b) if—
(i) the contract includes a provision to the effect that the eligible
transaction must be completed before 1 January 2011; or
(ii) the eligible transaction is completed before
1 January 2011, or a later date the commissioner allows if satisfied
on reasonable grounds that there are exceptional circumstances that prevented
completion before 1 January 2011.
Example—exceptional
circumstances
the builder becomes bankrupt before the eligible transaction is
completed
Note An example is part of the Act, is not exhaustive and may
extend, but does not limit, the meaning of the provision in which it appears
(see Legislation Act, s 126 and s 132).
(3) Also, an eligible transaction that is a comprehensive home building
contract for a new home qualifies for the first home owner boost for new
homes—
(a) if the contract is made on or after 14 October 2008 and on or before
30 June 2009, or a later date prescribed by regulation; and
(b) if the laying of the foundations for the home begins within
26 weeks after the day the contract is made, or any longer period the
commissioner allows if satisfied on reasonable grounds that there are
exceptional circumstances that prevented the laying of the foundations within
the 26 weeks; and
(c) if—
(i) the contract includes a provision to the effect that the building work
must be completed within 18 months after the day the laying of the foundations
for the home begins; or
(ii) the building work is completed within 18 months after the day the
laying of the foundations for the home begins, or any longer period the
commissioner allows if satisfied on reasonable grounds that there are
exceptional circumstances that prevented the completion within the 18
months.
(4) Also, an eligible transaction that is the building of a new 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 30 June 2009, or a later date prescribed by
regulation; and
(b) the transaction is completed within 18 months after the commencement
date, or any longer period the commissioner allows if satisfied on reasonable
grounds that there are exceptional circumstances that prevented the completion
within the 18 months.
(5) However, an eligible transaction that is a contract does not qualify
for the first home owner boost for new homes if the commissioner is satisfied
that—
(a) the contract replaces a contract made before 14 October 2008;
and
(b) the replaced contract was—
(i) a contract for the purchase of the same home; or
(ii) a comprehensive home building contract to build the same or a
substantially similar home.
24D First home owner boost for established
homes
(1) An eligible transaction qualifies for the first home owner boost for
established homes if—
(a) the eligible transaction is a contract for the purchase of a home;
and
(b) the home is not a new home; and
(c) the contract is made on or after 14 October 2008 and on or before 30
June 2009, or a later date prescribed by regulation.
(2) However, an eligible transaction that is a contract for the purchase
of a home does not qualify for the first home owner boost for established homes
if the 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.
24E Validating payment of grants for certain eligible
transactions
The payment of an amount as a first home owner grant before the day this
division commences, and anything done under this Act or the Taxation
Administration Act 1999 in relation to the grant, is validated to the
extent that it would have been valid if this Act (as amended by the First
Home Owner Grant Amendment Act 2009) had been in force when the payment was
made or the thing was done.
24F Transitional regulations
(1) A regulation may prescribe transitional matters necessary or
convenient to be prescribed because of the enactment of the First Home Owner
Grant Amendment Act 2009.
(2) A regulation may modify this division (including in relation to
another territory law) to make provision in relation to anything that, in the
Executive’s opinion, is not, or is not adequately or appropriately, dealt
with in this division.
(3) A regulation under subsection (2) has effect despite anything else in
this Act or another territory law.
24G Transitional effect—Legislation Act, s
88
This division (other than section 24F) is a law to which the Legislation
Act, section 88 (Repeal does not end effect of transitional laws etc)
applies.
24H Expiry—div 2.5A etc
This division and the following definitions in the dictionary expire on 1
July 2013:
• comprehensive home building contract
• contract for an ‘off-the-plan’
purchase
• contract for the purchase of a home
• GST Act
• home built to replace demolished premises
• new home
• owner-builder
• substantially renovated home.
7 Dictionary,
new definitions
insert
comprehensive home building contract, for division 2.5A
(Amount of grant—certain eligible transactions)—see section 13
(7).
contract for an ‘off-the-plan’ purchase, of a new
home, for division 2.5A (Amount of grant—certain eligible
transactions)—see section 24A (1).
contract for the purchase of a home, for division 2.5A
(Amount of grant—certain eligible transactions)—see section 13
(7).
GST Act for division 2.5A (Amount of grant—certain
eligible transactions)—see section 24A (1).
home built to replace demolished premises, for
division 2.5A (Amount of grant—certain eligible transactions)—see
section 24A (3).
new home, for division 2.5A (Amount of grant—certain
eligible transactions)—see section 24A (1).
owner-builder, for division 2.5A (Amount of
grant—certain eligible transactions)—see section 13 (7).
substantially renovated home, for division 2.5A
(Amount of grant—certain eligible transactions)—see section 24A
(2).
Endnotes
1 Presentation speech
Presentation speech made in the Legislative Assembly on 2009.
2 Notification
Notified under the Legislation Act on 2009.
3 Republications of amended laws
For the latest republication of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2009
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