102Increase in first home owner concession and principal place of

102 Increase in first home owner concession and principal place of residence rebate and new senior, pensioner and carer concession (1) Subject to subsection (2): (a) the relevant amendments apply to a conveyance first executed on or after 4 May 2010; and (b) if a conveyance was first executed before that date, this Act applies as if the relevant amendments had not been made. before 4 May 2010, of the same or substantially similar land; or 4 May 2010, to purchase the land to which the conveyance relates or substantially similar land; or (c) the conveyor had an option, granted before 4 May 2010, to require the conveyees to purchase the land to which the conveyance relates or substantially similar land. sections 14(2), (3) and (5), 16 and 17(1) of the 2010 amending Act. 103 Extension of period for occupancy for entitlement to first home owner concession and principal place of residence rebate (1) This section applies if, before 4 May 2010, duty was assessed on a conveyance of land on the basis that the conveyees were not entitled to the concession or rebate merely because the conveyees did not satisfy the requirement that a home be built on the land within 3 years after the relevant time for the conveyance. (2) On application by the conveyees, the Commissioner may, under the Taxation Administration Act 2007, reassess duty on the conveyance as if the relevant amendments had commenced. (3) On making the reassessment, the Commissioner must refund to the conveyees the difference between the amount of duty paid on the assessment and the amount of duty payable on the reassessment.