Commonwealth Numbered Acts Commonwealth Numbered Acts(1) A person holds a qualifying interest in a dwelling if the person is the legal owner of the dwelling (whether alone or together with others).
(2) Without limiting the scope of subsection (1), a person holds a qualifying interest in a dwelling if:
(a) the person is a lessee or licensee (whether alone or together with others) under a lease or licence that gives the person reasonable security of tenure over the dwelling; and
(b) in the case of a lease--the lease is a Crown lease (within the meaning of the Income Tax Assessment Act 1997 ); and
(c) in the case of a licence--the licence was granted by the Commonwealth, a State or a Territory.
(3) Without limiting the scope of subsection (1), a person holds a qualifying interest in a dwelling if:
(a) the person holds an equity of redemption in respect of the dwelling; or
(b) where the dwelling is a flat or home unit--the person is the legal owner of a share that:
(i) is in a company that is the legal owner of the land on which the flat or home unit is erected; and
(ii) gives the person a right to occupy the flat or home unit; or
(c) where the dwelling is in an aged care facility or retirement village--the person holds a right for him or her to occupy the dwelling.
(4) A person also holds a qualifying interest in a dwelling if circumstances exist as specified in regulations made for the purposes of this subsection.
(5) Despite anything else in the section, a person does not hold a qualifying interest in a dwelling if:
(a) the dwelling is not fixed to land; or
(b) circumstances exist as specified in regulations made for the purposes of this paragraph.
(6) A person acquires a qualifying interest in a dwelling when he or she starts to hold a qualifying interest in the dwelling.