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Regional home building boost grant

Definitions

The following definitions explain certain terms related to the regional home building boost grant in a simple way. This will help you determine your eligibility and understand your obligations when applying for this grant.

More information and definitions are available in the administrative direction and in QGrants, where you complete the 2-step process for the grant. Where there is a difference between the definitions here and the administrative direction, the administrative direction applies.

See also definitions for:

Applicant

A person applying for a grant who, on completion of the purchase of a new home or construction of a home, will own a relevant interest (or share) in the land on which the home is built

Commencement date of the eligible transaction

  • Buying or building a new home—the date when the contract is made
  • Building a home by an owner–builder:
    • the date when laying the foundations for the home starts
      or
    • another date the Commissioner of State Revenue considers appropriate in the circumstances.

Completion of the eligible transaction

Buying a new home—when you are entitled to legally possess the home under the contract and title is registered in your name.

Building a home (including by owner–builders)—when the home is ready for occupation and a final inspection certificate under the Building Act 1975 has been issued

Comprehensive home building contract

A contract under which a builder undertakes to build a home from the start of the building work (laying of foundations) to the point where the home is ready for occupation (final inspection certificate issued). If for any reason the work to be carried out under the contract is not completed, it includes any further contract under which the work is to be completed.

Consideration

Generally, the Australian dollar value paid for buying or building the new home.

For owner–builders, it is the actual costs to the owner of carrying out the work, excluding any allowance for their own labour.

Contract to build

A comprehensive home building contract where a builder agrees to build a home, from the start of the building work to when it is finished and is ready for occupation

Contract to purchase

An agreement between a vendor and purchaser to buy residential property at an agreed consideration

Eligible transaction

  • A contract for the freehold purchase of a new home in regional Queensland, if the commencement date is between 4June 2020 and 31 March 2021 (both dates inclusive)
  • A comprehensive home building contract made by the freehold owner of land in regional Queensland (or a person who will become the freehold owner) to have a new home built on the land, if the commencement date is between 4 June 2020 and 31 March 2021 (both dates inclusive)
  • The building of a new home in regional Queensland by an owner–builder, if the commencement date is between 4 June 2020 and 31 March 2021 (both dates inclusive)

The transaction is not an eligible transaction if:

  • the consideration for the transaction is $750,000 or more
    or
  • the unencumbered value of the new home and the unencumbered value of the applicant’s freehold interest in the land on which the new home is built or to be built is $750,000 or more at the commencement date for the transaction.

Final inspection certificate

This document proves that your home is approved as a class 1a dwelling and is usually given to you by your builder. Learn more about the stages of a building inspection.

Freehold

An estate in fee simple in land. Most developed, privately held land in Australia is under freehold tenure.

Home

A building, affixed to land, that may be lawfully used as a place of residence and is suitable for use as a place of residence.

Lot and plan number

Every property will have a lot and plan description. These are stated in the property section of your contract. Most councils include the lot and plan on rates notices. You can also use the Queensland Geocoder to find this information.

New home

A new home is one that has not been occupied as a place of residence or sold as a place of residence.

It may include:

  • the purchase of a substantially renovated home
  • a home acquired under 'builders' terms arrangements' from 1 December 2020 (see Public Ruling FHOGA006.2).

Off-the-plan

A contract to purchase a home on a proposed lot in an unregistered plan of a subdivision of land.

An example would be 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 land contract and a building contract.

Owner-builder

An owner of land who builds a home or has a home built on the land without entering into a contract to build.

Permanent resident

A person who holds a permanent visa (under section 30 of the Migration Act 1958 (Cwlth)) or a New Zealand citizen who is the holder of a special category visa (under section 32 of the Migration Act).

Place of residence

See definition of residential property.

Principal place of residence

This is the home you primarily reside in.

This home must be occupied by all applicants for a continuous period of at least 6 months commencing within 12 months of completion of the eligible transaction.

Property

One of the following:

  • a home
  • land
  • a relevant interest (or share) in land.

Regional Queensland

The following areas under statistical area level 4 in the ‘Australian Statistical Geography Standard’, published by the Australian Bureau of Statistics:

Registration confirmation statement

This is the document that proves that you were recorded as the registered owner(s) of the property at the time you acquire it. Contact the Titles Registry for a current title search (to show you own the property) if you don’t have this document.

Relevant interest

A relevant interest is a freehold interest or share held by an individual in a property that grants them legal entitlement to, and a right to occupy, the home. The interest holder must be the registered owner of the property.

Residential property

Land in Australia on which there is a home that is lawfully occupied or suitable for occupation. This includes houses, townhouses, units, flats, duplexes, converted buildings and fixed moveable dwellings.

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).

Substantially renovated home

A home that:

  • is the subject of a contract to purchase a home
  • is being sold as a taxable supply of new residential premises as defined under section 40-75(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth)
  • has not been lived in since the renovation.

Unencumbered value

The value of property disregarding:

  • any encumbrance (e.g. money owed under a mortgage)
  • any arrangement that results in the reduction of the value of the property.

Vendor statement

This is a statement from the seller. It must show the name and title of the person authorised to sign it. If the vendor is a company or trust, the statement should be on their letterhead.

For newly built homes, it must state that the home has not been previously occupied or sold as a place of residence

For renovated homes, it must confirm:

  • the home has not been previously occupied or sold as a place of residence since the renovations
  • the type and extent of renovations
  • the sale of the home is a taxable supply under the GST Act and was in the course of the seller’s business.

In this guide:

  1. How and when to apply
  2. Renovated houses and the regional home building boost grant
  3. Supporting documents
  4. Definitions

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