sec.25EAMeaning of relevant eligible transaction

sec.25EA Meaning of relevant eligible transaction

A relevant eligible transaction is an eligible transaction mentioned in section 5 (1) that is— a contract for the purchase of a new home in the State made between 20 November 2023 and 30 June 2026, both dates inclusive; or a comprehensive home building contract made by the owner of land in the State, or a person who will on completion of the contract be the owner of land in the State, to have a new home built on the land, if the contract is made between 20 November 2023 and 30 June 2026, both dates inclusive; or the building of a new home in the State by an owner builder if the building work starts between 20 November 2023 and 30 June 2026, both dates inclusive. However, an eligible transaction that is a contract is not a relevant eligible transaction if the commissioner is satisfied the contract forms part of a scheme to circumvent limitations on, or requirements affecting, eligibility or entitlement to a first home owner grant for a relevant eligible transaction. Unless satisfied to the contrary, the commissioner must presume the existence of a scheme mentioned in subsection (2) if— the contract replaces a contract made before 20 November 2023 that is— a contract to purchase the same or a substantially similar home; or a comprehensive home building contract to build the same or a substantially similar home; or for a contract to purchase a new home—the purchaser had an option to purchase the home granted before 20 November 2023 or the vendor had an option to require the purchaser to purchase the home granted before that date; or for a comprehensive home building contract—either party had a right or option granted before 20 November 2023 to require the other to enter into the contract. s 25EA ins 2024 No. 35 s 12 (retro) amd 2025 No. 15 s 11 (sec.25EA-ssec.1) A relevant eligible transaction is an eligible transaction mentioned in section 5 (1) that is— a contract for the purchase of a new home in the State made between 20 November 2023 and 30 June 2026, both dates inclusive; or a comprehensive home building contract made by the owner of land in the State, or a person who will on completion of the contract be the owner of land in the State, to have a new home built on the land, if the contract is made between 20 November 2023 and 30 June 2026, both dates inclusive; or the building of a new home in the State by an owner builder if the building work starts between 20 November 2023 and 30 June 2026, both dates inclusive. (sec.25EA-ssec.2) However, an eligible transaction that is a contract is not a relevant eligible transaction if the commissioner is satisfied the contract forms part of a scheme to circumvent limitations on, or requirements affecting, eligibility or entitlement to a first home owner grant for a relevant eligible transaction. (sec.25EA-ssec.3) Unless satisfied to the contrary, the commissioner must presume the existence of a scheme mentioned in subsection (2) if— the contract replaces a contract made before 20 November 2023 that is— a contract to purchase the same or a substantially similar home; or a comprehensive home building contract to build the same or a substantially similar home; or for a contract to purchase a new home—the purchaser had an option to purchase the home granted before 20 November 2023 or the vendor had an option to require the purchaser to purchase the home granted before that date; or for a comprehensive home building contract—either party had a right or option granted before 20 November 2023 to require the other to enter into the contract.