Queensland Numbered Acts

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COMMUNITY AMBULANCE COVER LEVY REPEAL AND REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2011 No. 20 - SECT 131

131 Replacement of s 86 (What is a home and a first home)

Section 86—

omit, insert—

'(1) A residence is a person's first home if—

(a) the person's occupation date for the residence is within 1 year after the person's transfer date for the residential land on which the residence is constructed; and
Note—
For transfer duty to be imposed for residential land, it must be in Queensland, see section 10(1)(a).
(b) before acquiring the residence—
(i) the person did not hold, and never before held, an interest in other residential land in Queensland or elsewhere other than—
(A) as trustee for another person; or
(B) as lessee; or
(C) as the holder of a security interest; and
(ii) 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 residence is constructed.

'(2) Subsection (1)(b)(i)(B) does not apply to the interest in land of a lessee of a lease of residential land for which a premium, fine or other consideration is payable.'.



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