30June 2027 unless:

30 June 2027 unless: before 1 July 2022, in relation to the same or substantially (b) the conveyance is in relation to land for which the conveyee entered into an option to purchase before 1 July 2022; or (c) the conveyor of the land had an option, granted before 1 July 2022, to require the conveyee to purchase the land to which the conveyance relates or substantially similar land. (2) The conveyance is exempt from duty if all of the following conditions are met: (a) the conveyee is: (i) an individual; and (ii) subject to subsection (7), at least 18 years of age at the relevant time; and (iii) an Australian citizen or a permanent resident at the relevant time; (b) in the conveyance, the conveyee agrees to acquire title to and the whole beneficial interest in land owned by a building contractor; (c) the conveyee has no beneficial interest in the land being conveyed before the relevant time; (d) in the conveyance, the building contractor agrees to convey the land to the conveyee; (e) in the conveyance, the building contractor agrees to do one of the following: (i) build or place a detached, new home on the land being conveyed;

Stamp Duty Act 1978 104 (ii) complete the building of a partially completed and detached, new home that is situated on the land being conveyed; (iii) convey a completed and detached, new home that is situated on the land being conveyed; (f) the land being conveyed is owned by the building contractor immediately before the conveyance is executed or will be owned by the building contractor immediately before settlement of the conveyance; (g) the land being conveyed was purchased by the building contractor from another person who developed it as a residential lot; (h) the building contractor paid duty on the dutiable value of the land when the building contractor purchased it from the person who developed it as a residential lot; (i) the conveyee occupies the home as the conveyee's principal place of residence for the prescribed period commencing within the period for occupancy, unless the Commissioner is satisfied that special reasons exist to vary this requirement; (j) the conveyee becomes entitled to possession of the land within 12 months after settlement of the conveyance, unless the Commissioner is satisfied that special reasons exist to vary this requirement. Note for subsection (2)(b) The conveyee is not acquiring an interest in the land in the capacity of a trustee. (3) If there are 2 or more conveyees under the conveyance, the conveyance is not exempt from duty unless: (a) subject to subsection (7), at least one of the conveyees meets the criteria specified in subsection (2)(a)(ii); and (b) at least one of the conveyees meets the criteria specified in subsection (2)(a)(iii); and (c) subject to paragraphs (a) and (b), all conditions in subsection (2) are met; and (d) all conveyees agree to acquire title to and the whole beneficial interest in the land being conveyed.