sec.18 Transactions that are not eligible transactions
The following transactions are not eligible transactions—
a transaction for which the consideration is $600,000 or more;
a transaction between the applicant and a related person of the applicant, unless the first home owner grant is paid or payable for the transaction;
a home purchase contract for which transfer duty is not payable under the Duties Act 2001 , other than because of—
the concession for first homes under section 92 of that Act; or
the exemption for manufactured homes under section 138 of that Act; or
the exemption for charitable institutions under section 414 of that Act;
a legally binding arrangement made on or after 14 June 2011 for which the sole or main purpose is to defer the transaction commencement day for a home purchase contract or home building contract to 1 August 2011 or a later day before 1 February 2012 (the post-eligibility period ), including, for example—
terminating a home purchase or building contract made before 1 August 2011 and, making, in the post-eligibility period, a home purchase or building contract for the same or a substantially similar home; and
granting, before 1 August 2011, an option to enter into a home purchase or building contract and exercising the option in the post-eligibility period;
The building boost grant was publicly announced on 14 June 2011.
a transaction for which financial assistance is given by or for the Commonwealth or the State, other than the following assistance—
a first home owner grant;
a concession for transfer duty for first homes under the Duties Act 2001 , section 92 ;
a Commonwealth First Home Saver Account contribution;
a National Rental Affordability Scheme incentive;
a loan on commercial terms;
assistance given to mitigate the effects of a natural disaster;
other assistance under a financial assistance scheme prescribed under a regulation;
a transaction that the commissioner is satisfied forms part of a scheme or arrangement to circumvent limitations on, or requirements affecting, eligibility or entitlement to the building boost grant.
(a) a transaction for which the consideration is $600,000 or more;
(b) a transaction between the applicant and a related person of the applicant, unless the first home owner grant is paid or payable for the transaction;
(c) a home purchase contract for which transfer duty is not payable under the Duties Act 2001 , other than because of— (i) the concession for first homes under section 92 of that Act; or (ii) the exemption for manufactured homes under section 138 of that Act; or (iii) the exemption for charitable institutions under section 414 of that Act;
(i) the concession for first homes under section 92 of that Act; or
(ii) the exemption for manufactured homes under section 138 of that Act; or
(iii) the exemption for charitable institutions under section 414 of that Act;
(d) a legally binding arrangement made on or after 14 June 2011 for which the sole or main purpose is to defer the transaction commencement day for a home purchase contract or home building contract to 1 August 2011 or a later day before 1 February 2012 (the post-eligibility period ), including, for example— (i) terminating a home purchase or building contract made before 1 August 2011 and, making, in the post-eligibility period, a home purchase or building contract for the same or a substantially similar home; and (ii) granting, before 1 August 2011, an option to enter into a home purchase or building contract and exercising the option in the post-eligibility period; Editor’s note— The building boost grant was publicly announced on 14 June 2011.
(i) terminating a home purchase or building contract made before 1 August 2011 and, making, in the post-eligibility period, a home purchase or building contract for the same or a substantially similar home; and
(ii) granting, before 1 August 2011, an option to enter into a home purchase or building contract and exercising the option in the post-eligibility period;
(e) a transaction for which financial assistance is given by or for the Commonwealth or the State, other than the following assistance— (i) a first home owner grant; (ii) a concession for transfer duty for first homes under the Duties Act 2001 , section 92 ; (iii) a Commonwealth First Home Saver Account contribution; (iv) a National Rental Affordability Scheme incentive; (v) a loan on commercial terms; (vi) assistance given to mitigate the effects of a natural disaster; (vii) other assistance under a financial assistance scheme prescribed under a regulation;
(i) a first home owner grant;
(ii) a concession for transfer duty for first homes under the Duties Act 2001 , section 92 ;
(iii) a Commonwealth First Home Saver Account contribution;
(iv) a National Rental Affordability Scheme incentive;
(v) a loan on commercial terms;
(vi) assistance given to mitigate the effects of a natural disaster;
(vii) other assistance under a financial assistance scheme prescribed under a regulation;
(f) a transaction that the commissioner is satisfied forms part of a scheme or arrangement to circumvent limitations on, or requirements affecting, eligibility or entitlement to the building boost grant.
(i) the concession for first homes under section 92 of that Act; or
(ii) the exemption for manufactured homes under section 138 of that Act; or
(iii) the exemption for charitable institutions under section 414 of that Act;
(i) terminating a home purchase or building contract made before 1 August 2011 and, making, in the post-eligibility period, a home purchase or building contract for the same or a substantially similar home; and
(ii) granting, before 1 August 2011, an option to enter into a home purchase or building contract and exercising the option in the post-eligibility period;
(i) a first home owner grant;
(ii) a concession for transfer duty for first homes under the Duties Act 2001 , section 92 ;
(iii) a Commonwealth First Home Saver Account contribution;
(iv) a National Rental Affordability Scheme incentive;
(v) a loan on commercial terms;
(vi) assistance given to mitigate the effects of a natural disaster;
(vii) other assistance under a financial assistance scheme prescribed under a regulation;