sec.86BWhat is a first home for a residence to be constructed on vacant land

### sec.86B What is a first home for a residence to be constructed on vacant land A residence that is to be constructed on vacant land is a person’s first home if— the person’s occupation date for the residence is within 2 years after the person’s transfer date for the vacant land; and before acquiring the vacant land— the person did not hold, and never before held, an interest in residential land in Queensland or elsewhere other than— as trustee for another person; or as lessee; or as the holder of a security interest; and the person was not, and had never been, a vacant land concession beneficiary in relation to land other than the vacant land on which the residence is to be constructed. Subsection (1) (b) (i) (B) does not apply to the interest in land of a lessee of a lease— of residential land on which a home or first home is constructed; and for which a premium, fine or other consideration is payable. s 86B ins 2006 No. 44 s 22 amd 2010 No. 11 s 15 ; 2011 No. 20 s 132 ; 2012 No. 8 s 17 (sec.86B-ssec.1) A residence that is to be constructed on vacant land is a person’s first home if— the person’s occupation date for the residence is within 2 years after the person’s transfer date for the vacant land; and before acquiring the vacant land— the person did not hold, and never before held, an interest in residential land in Queensland or elsewhere other than— as trustee for another person; or as lessee; or as the holder of a security interest; and the person was not, and had never been, a vacant land concession beneficiary in relation to land other than the vacant land on which the residence is to be constructed. (sec.86B-ssec.2) Subsection (1) (b) (i) (B) does not apply to the interest in land of a lessee of a lease— of residential land on which a home or first home is constructed; and for which a premium, fine or other consideration is payable. - (a) the person’s occupation date for the residence is within 2 years after the person’s transfer date for the vacant land; and - (b) before acquiring the vacant land— (i) the person did not hold, and never before held, an interest in 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 vacant land on which the residence is to be constructed. - (i) the person did not hold, and never before held, an interest in 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 - (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 vacant land on which the residence is to be constructed. - (i) the person did not hold, and never before held, an interest in 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 - (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 vacant land on which the residence is to be constructed. - (A) as trustee for another person; or - (B) as lessee; or - (C) as the holder of a security interest; and - (a) of residential land on which a home or first home is constructed; and - (b) for which a premium, fine or other consideration is payable.