Completed eligible transaction
A completed eligible transaction is:
- for the purchase of a new home, when the purchaser is entitled to possession under the contract and has registered title to the land on which the home is built
- for a contract to have a new home built, including by owner-builders, when the new home is ready for occupation and any completion requirements (e.g. final inspection certificate) have been complied with.
Financial help is any financial assistance, and may include:
- a gift of money or property (whether or not the gift is enough for the applicant to buy or build the home)
- a contribution towards the purchase, construction 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 less than the market value of the land
- transferring an existing home for less than the market value of the home
- building a home for a discounted price
- agreeing to pay any rates, utilities or repair and maintenance costs of 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.
An established home is a home that has been lived in previously.
A new home is 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
- is a substantially renovated home (completed by the vendor in limited circumstances).
A related person is a parent, child, grandparent, sibling, uncle or aunt of an applicant, or the spouse of any of these.
A spouse is a person who is one of the following:
- 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 Relationships Act 2011).
Substantially renovated homes
You may be eligible for the Queensland First Home Owners' Grant if you are buying a substantially renovated home (including the land on which it is situated) where:
- the sale of the home is a taxable supply as a new residential premises, as defined in sections 40-75(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth)
- the renovated home has not been previously occupied or sold as a place of residence.
The seller must provide evidence that each of the above requirements has been satisfied. You will also need to provide proof that a new residential premises has been created through substantial renovations before we can pay the grant.
What is a substantial renovation?
A substantial renovation is a renovation in which all, or most, of the structural and/or non-structural components of a building are removed or replaced (see table below). Most of the rooms in the previous building must have been affected, and the renovations must have affected the building as a whole for it to be considered a substantial renovation.
A home has not been substantially renovated if:
- only cosmetic work has been done to the home
- only 1 part of the building has been renovated (e.g. renovation of 1 bedroom in a 4-bedroom house; removal and replacement of a kitchen and bathroom with little else being done to the building, apart from minor repair work).
Structural building work includes:
Non-structural building work includes:
Cosmetic work includes:
- Replacing or altering foundations
- Replacing or altering floors or supporting walls (interior and exterior)
- Lifting or modifying roofs
- Altering brickwork to replace existing windows and doors
- Repairing electrical wiring
- Replacing or altering non-supporting walls (interior and exterior)
- Plastering or rendering an entire wall or walls
- Plumbing (e.g. replacing pipes)
- Sanding floors
- Replacing light fittings
- Replacing curtains
- Replacing carpets
See section 195.1 of the A New Tax System (Goods and Services) Act for more information.
The unencumbered value of property is the value of the property determined without regard to one of the following:
- any encumbrance to which the property is subject, whether contingently or otherwise
- any arrangement the parties to which are not dealing with each other at arm's length and that results in the reduction of the value of the property
- any arrangement for which a significant purpose of any party to the arrangement was, in the Commissioner of State Revenue's opinion, the reduction of the value of the property.