After section 18F of the Principal Act , the following section is inserted in Division 5:

18G.     Conditions on increase in grant

(1)  An eligible transaction satisfies this section if –

(a) the commencement date of the eligible transaction is on or after 1 July 2019 but before 1 July 2020; and

(b) the eligible transaction is completed in accordance with section 13(5) within 24 months after the commencement date of the eligible transaction.

(2)  If satisfied there are good reasons to do so and if a request by the applicant is made before a decision on the application has been varied or reversed under section 23 , the Commissioner may extend the period referred to in subsection (1) for the eligible transaction to be completed, even though the period has expired.

(3)  Despite subsection (1) , an eligible transaction does not satisfy this section if the Commissioner considers that the eligible transaction replaces a transaction, entered into before 1 July 2019, that is for the same property and that is between substantially, or that benefits substantially, the same parties.

(4)  For the avoidance of doubt, a payment of $20 000 that –

(a) was made in anticipation of the First Home Owner Grant Amendment Act 2019 receiving the Royal Assent; and

(b) was made on or after 1 July 2019 but before the First Home Owner Grant Amendment Act 2019 received the Royal Assent –

is taken to be a first home owner grant payment, for the purposes of this Act, made in relation to an eligible transaction to which this section, as inserted by that Act, applies.