Australian Capital Territory Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2019 (NO 2) (NO. 46 OF 2019) - SECT 8

insert

75     Definitions—div 2.6A.1

In this division:

"deferral arrangement"—see section 75AC (2).

"eligible person" means a person who—

        (a)     is an eligible home buyer under the home buyer concession scheme; or

        (b)     is eligible for a first home owner grant under the First Home Owner Grant Act 2000

; or

        (c)     would be eligible for a first home owner grant under the First Home Owner Grant Act 2000

apart from the person's home not being a new home under that Act

, section 12B.

Note     A reference to an Act includes a reference to the statutory instruments made or in force under the Act, including any regulation (see Legislation Act

, s 104).

"eligible property"—see section 75A (1).

"home buyer concession scheme" means a home buyer concession scheme determined under the Taxation Administration Act

, section 139 (Determination of amounts payable under tax laws).

75A     Meaning of eligible property —div 2.6A.1

    (1)     In this division:

"eligible property" means—

        (a)     for a home buyer concession scheme—property determined under the scheme as eligible property for the scheme; or

        (b)     in any other case—a residential lease with a value not more than—

              (i)     $750 000; or

              (ii)     if another amount is determined by the Minister—the amount determined.

    (2)     A determination under subsection (1) (b) (ii) is a disallowable instrument.

Note     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act

.