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Definitions

The following definitions explain certain terms related to Queensland first home owner grants and used in application forms. This will help you determine your eligibility and understand your obligations when applying for a grant.

Completed eligible transaction

Buying a new home—when you are entitled to possess the home under the contract and you have registered your ownership on the title of the land on which the home is built

Building a new home (including by owner–builders)—when the new home is ready for occupation and any requirements (e.g. final inspection certificate) have been fulfilled

When applying for the grant, you will need to provide supporting documentation, such as the title registration confirmation or final inspection certificate.

Financial help

Financial help can include:

  • a gift of money or property (whether or not the gift is enough for you to buy or build the home)
  • a contribution towards the purchase, building or maintenance of the home
  • making a loan repayment for the home
  • forgiving a loan repayment
  • transferring land on which the home is to be built for an amount less than its market value
  • transferring an existing home for an amount less than its market value
  • building a home for a discounted price
  • agreeing to pay any rates, utilities or repair and maintenance costs for the home
  • agreeing to act as guarantor on the home mortgage
  • agreeing to pay market rent for living in an applicant's home
  • indirect payments to a third party (e.g. to pay a debt owed by an applicant to the third party)
  • indirect payments from a third party (i.e. a company or trust for which a related person is a director or trustee).

Financial help does not include a commercial loan from an authorised deposit-taking institution listed by the Australian Prudential Regulatory Authority.

Established home

A home that has been lived in previously

New home

A new home is either:

  • a house, apartment, unit or townhouse that
  • has not been previously occupied as a place of residence
  • has not been previously sold as a place of residence
  • a substantially renovated home (completed by the seller in limited circumstances).

Off-the-plan home

An off-the-plan purchase is a single contract to buy a new home and the relevant interest in the land, which is a proposed lot on an unregistered plan resulting from a subdivision. In some cases, the property may not have been built yet. For example, the purchase of a unit in a unit block, where the unit’s individual lot and plan description will not be available until the strata title has been registered.

You do not have an off-the-plan contract to purchase if you have both a vacant land contract and a building contract.

Permanent resident

A person who holds a permanent visa, or is a New Zealand citizen with a special category visa, as defined by the Migration Act 1958 (Cwlth)

Related person

A parent, child, grandparent, sibling, uncle or aunt of an applicant, or the spouse of any of these

Spouse

A person who is one of the following:

  • married
  • a de facto partner (who has lived and is living with the other person on a genuine domestic basis for 2 years or more, regardless of gender)
  • a registered partner (under the Civil Partnerships Act 2011).

Unencumbered value

The value of the property being transferred disregarding any encumbrance; for example, money owed under a mortgage

See section 8A of the First Home Owner Grant Act 2000 for a full definition.