Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The subsistence of a housing right granted by a person (the provider ) to another person (the recipient ) constitutes a housing benefit provided by the provider to the recipient.
(2) The payment of money or other valuable consideration by an employer directly or indirectly to an employee (other than an employee of the Defence Force) to enable or assist the employee to meet costs associated with a loan to which subsection (4) applies constitutes a housing benefit provided by the employer to the employee.
Note: For employee and employer see section 10A.
(3) The payment of money or other valuable consideration by an employer directly or indirectly to an employee of the Defence Force to meet costs associated with a loan to which subsection (4) applies does not constitute a housing benefit provided by the employer to the employee.
(4) This subsection applies to a loan made to, or used by, a person (whether in his or her own right or jointly with his or her partner) wholly:
(a) to enable the person to acquire a prescribed interest in land on which a dwelling or a building containing a dwelling was subsequently to be constructed; or
(b) to enable the person to acquire a prescribed interest in land and construct, or complete the construction of, a dwelling or a building containing a dwelling on the land; or
(c) to enable the person to construct, or complete the construction of, a dwelling or a building containing a dwelling on land in which the person held a prescribed interest; or
(d) to enable the person to acquire a prescribed interest in land on which there was a dwelling or a building containing a dwelling; or
(e) to enable the person to acquire a prescribed interest in a stratum unit in relation to a dwelling; or
(f) to enable the person to extend a building that:
(i) is a dwelling or contains a dwelling; and
(ii) is constructed on land in which the person held a prescribed interest;
by adding a room or part of a room to the building or part of the building containing the dwelling, as the case may be; or
(g) if the person held a prescribed interest in a stratum unit in relation to a dwelling--to enable the person to extend the dwelling by adding a room or part of a room to the dwelling; or
(h) to enable the person to repay a loan that was made to, and used by, the person wholly for a purpose mentioned in paragraph (a) to (g).
Note 1: For dwelling see subsection 10A(7).
Note 2: For prescribed interest see subsections 10A(10) to (14).
Note 3: For stratum units see subsection 10A(8).
(5) The payment of money or other valuable consideration by an employer directly or indirectly to an employee to enable or assist the employee to meet costs associated with enjoying a housing right constitutes a housing benefit provided by the employer to the employee.
Note: For employee , employer and housing right see section 10A.
(6) For the avoidance of doubt, subsection (5) does not
apply to payments to which subsection (2) or (3) applies.