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CLAUSE NOTES
First Home Owner Grant Amendment Bill (No. 2) 2014
Clause 1 This Act may be cited as the First Home Owner Grant Amendment Act
(No.2) 2014
Clause 2 Describes the commencement date of the amendments as the day on
which the Act receives Royal Assent.
Clause 3 In this Act, the First Home Owner Grant Act 2000 is referred to as the
Principal Act.
Clause 4 Amends section 18 to provide that the amount of a first home owner
grant is:
$20 000 if an eligible transaction satisfies section 18C;
$7 000 if an eligible transaction commenced on or before 30
June 2015 and does not satisfy section 18A, 18B or 18C; and
$10 000 if an eligible transaction commenced on or after 1 July
2015 and does not satisfy section 18A, 18B or 18C.
Clause 5 Inserts a new section 18C to:
reflect the same definition of `commencement of building' and
`off-the-plan purchase' as in sections 18A and 18B;
describe the commencement and closing period for the
$20 000 scheme as requiring an eligible transaction to be
entered between 1 January 2015 and 30 June 2015;
replicate the building commencement and completion periods
for a range of building transactions from section 18A and 18B;
confer the Commissioner of State Revenue the power to reject
an application for the $20 000 scheme if he believes the eligible
transaction replaced a pre-existing transaction.
Clause 6 Repeals this Act one year after it commences, as the amendments are
to be incorporated into the First Home Owner Grant Act 2000.
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