74Eligible agreements or transfers

#### 74 Eligible agreements or transfers 74 Eligible agreements or transfers > > (1) The agreement or transfer must be for the acquisition of a first home or for the acquisition of a vacant block of residential land intended to be used as the site of a first home. > > > (2) The agreement or transfer must be for the whole of the property. > > > (3) The dutiable value of the dutiable property that is the subject of the agreement or transfer must be less than— > > > > > (a) $1,000,000 if the property has a private dwelling built on it, or > > > > > (b) $450,000 if the property comprises a vacant block of residential land. > > > > Note. > > > > The dutiable value of dutiable property is the greater of— > > > > > (a) the consideration (if any) for the dutiable transaction (being the amount of a monetary consideration or the value of a non-monetary consideration), and > > > > > (b) the unencumbered value of the dutiable property. > > > (4) Despite subsection (3), in relation to an agreement for sale or transfer or a transfer entered into during the period beginning on 1 August 2020 and ending on 31 July 2021 (other than a transfer made in conformity with an agreement for sale or transfer entered into before 1 August 2020), the dutiable value of the dutiable property that is the subject of the agreement or transfer must be less than— > > > > > (a) $1,000,000 if the property has a private dwelling that is a new home built on it, or > > > > > (b) $800,000 if the property has a private dwelling that is not a new home built on it, or > > > > > (c) $500,000 if the property comprises a vacant block of residential land. > > > (5) In this section, new home has the same meaning as in section 4A of the [First Home Owner Grant and Shared Equity Act 2000](/view/html/inforce/current/act-2000-021). > > **s 74:** Am 1998 No 81, Sch 1 \[4\] \[5\]; 1999 No 10, Sch 2 \[10\] \[11\]; 2000 No 51, Sch 2 \[9\] \[10\]; 2001 No 22, Sch 1 \[9\]–\[11\]. Subst 2004 No 33, Sch 1 \[4\]. Am 2008 No 67, Sch 1 \[15\] \[16\]; 2010 No 46, Sch 1.3 \[17\] \[18\]; 2011 No 43, Sch 1 \[8\]; 2012 No 46, Sch 1.2 \[1\]; 2017 No 33, Sch 1.1 \[7\] \[8\]; 2020 No 19, Sch 1\[2\]; 2023 No 4, Sch 1\[2\]; 2024 No 90, Sch 1\[5\].