sec.25QApplication for grant and when grant is payable

sec.25Q Application for grant and when grant is payable

A person who is eligible to apply for a home builder grant under the home builder direction may apply for the grant. An application for a home builder grant must comply with the home builder direction. An applicant for a home builder grant is entitled to be paid the grant if— the applicant or, for a joint application, each of the applicants, complies with the eligibility criteria for the grant under the home builder direction; and the transaction for which the grant is sought is an eligible home builder transaction; and the relevant requirement in relation to the eligible home builder transaction has been met. See also section 25R (2) . Only 1 home builder grant is payable for the same eligible home builder transaction. In this section— relevant requirement , in relation to an eligible home builder transaction, means— if the transaction is a contract for the purchase of a new home within the meaning of the home builder direction—the contract has been completed within the meaning of the home builder direction; or if the transaction is a comprehensive home building contract within the meaning of the home builder direction—the foundations have been laid and the first progress payment has been paid to the builder under the contract; or if the transaction is a contract for a substantial renovation within the meaning of the home builder direction—construction under the contract has commenced and at least $150,000 of the contract price has been paid to the builder under the contract. s 25Q ins 2020 No. 30 s 4J (sec.25Q-ssec.1) A person who is eligible to apply for a home builder grant under the home builder direction may apply for the grant. (sec.25Q-ssec.2) An application for a home builder grant must comply with the home builder direction. (sec.25Q-ssec.3) An applicant for a home builder grant is entitled to be paid the grant if— the applicant or, for a joint application, each of the applicants, complies with the eligibility criteria for the grant under the home builder direction; and the transaction for which the grant is sought is an eligible home builder transaction; and the relevant requirement in relation to the eligible home builder transaction has been met. See also section 25R (2) . (sec.25Q-ssec.4) Only 1 home builder grant is payable for the same eligible home builder transaction. (sec.25Q-ssec.5) In this section— relevant requirement , in relation to an eligible home builder transaction, means— if the transaction is a contract for the purchase of a new home within the meaning of the home builder direction—the contract has been completed within the meaning of the home builder direction; or if the transaction is a comprehensive home building contract within the meaning of the home builder direction—the foundations have been laid and the first progress payment has been paid to the builder under the contract; or if the transaction is a contract for a substantial renovation within the meaning of the home builder direction—construction under the contract has commenced and at least $150,000 of the contract price has been paid to the builder under the contract.