sec.8Meaning of new home

sec.8 Meaning of new home

A new home is a home that— has not been previously occupied or transferred as a place of residence; or is a substantially renovated home. For subsection (1) (b) , a home is a substantially renovated home if— the home is the subject of a home purchase contract; and the sale of the home under the contract is, under the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth) , a taxable supply as a sale of new residential premises as defined under section 40 -75(1)(b) of that Act; and the home, as renovated, has not been previously occupied or transferred as a place of residence. (sec.8-ssec.1) A new home is a home that— has not been previously occupied or transferred as a place of residence; or is a substantially renovated home. (sec.8-ssec.2) For subsection (1) (b) , a home is a substantially renovated home if— the home is the subject of a home purchase contract; and the sale of the home under the contract is, under the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth) , a taxable supply as a sale of new residential premises as defined under section 40 -75(1)(b) of that Act; and the home, as renovated, has not been previously occupied or transferred as a place of residence.

• (a) has not been previously occupied or transferred as a place of residence; or
• (b) is a substantially renovated home.
• (a) the home is the subject of a home purchase contract; and
• (b) the sale of the home under the contract is, under the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth) , a taxable supply as a sale of new residential premises as defined under section 40 -75(1)(b) of that Act; and
• (c) the home, as renovated, has not been previously occupied or transferred as a place of residence.