Definition of terms—First home owner grant

A

Approved bank or lending institution

An approved bank or lending institution is an organisation authorised to process applications for the grant, and is often referred to as an ‘approved agent’.

B

C

Certified copy

A certified copy is a true copy of an original document that has been authorised in writing by a Justice of the Peace, Commissioner for Declarations or Notary Public.

Alternatively, we will accept certification by an accepted person* that is noted as follows: ‘I certify that I have sighted the original document and this is a true copy of it.’ This certification must have the certifier’s name, occupation, and be signed and dated.

 *An accepted person includes a/an:

• lawyer
• magistrate
• police officer
• pharmacist
• certified practicing accountant
• Member of Parliament
• medical practitioner
• dentist
• officer of OSR
• employee of an approved bank or lending institution.

Commissioner

The Commissioner is the Commissioner of State Revenue.

Consideration

Consideration is the purchase price or cost of construction of the home.

Contract to build

A contract to build is a comprehensive home building contract where a builder agrees to build a home, from the time the building starts to when it is finished and ready to be lived in.

D

Disqualifying arrangement

A disqualifying arrangement exists when:

• an applicant for the grant has received financial help from a related person who is ineligible to receive the grant, will use the home frequently or to a significant extent and the Commissioner is not satisfied that there are genuine family reasons for the arrangement
  
  or
  
  
• the Commissioner is satisfied there is an arrangement the sole or main purpose of which is to obtain the grant rather than a home.

Drawdown of funds

Drawdown of funds means to withdraw funds from a designated loan account, and is usually done progressively according to construction expenditure.

E

Eligibility criteria

The eligibility criteria are the criteria set out in sections 11–15 of the Act for deciding whether an applicant is eligible for the grant.

Eligible transaction

An eligible transaction is either:

1. a contract of sale to purchase a home
2. a contract to build a home
3. construction of a home as an owner builder.

Full definitions can be found in section 5 of the Act.

Established home

An established home is a home that has been lived in previously.

F

Final inspection report

A final inspection report is certification issued by a local council or building inspector that building works for a home are complete and the home is ready to be lived in.

Financial help

Financial help is assistance given by a related person and includes:

• a gift of money or property
• a contribution towards the purchase, construction or maintenance of the home
• making a loan repayment for the home 
• forgiving a loan repayment.

G

H

Home

A home is a building, fixed to land, that may lawfully be used as a place of residence, and is suitable as a place of residence.

I

Instalment contract

An instalment contract is an agreement to buy a home where the buyer has to make payments for the home without being able to transfer title to the home to their name.

See Public Ruling FHOGA010.1—When must the eligibility criteria be satisfied for more information.

Interested person

An interested person is a person who has a relevant interest in a home.

J

K

L

M

N

Natural person

A natural person is a person who is an actual human being, not a legal person such as a company or trust.

O

Oral contract

An oral contract is an agreement to buy or build a home that is not in writing.

See Public Ruling FHOGA005.2—Eligible transactions under the First Home Owner Grant Act 2000—oral contracts for more information.

Owner

An owner is a person who has a relevant interest in land on which a home is built.

P

Permanent resident

A permanent resident is a person who holds a permanent visa or is a New Zealand citizen who holds a special category visa under the Migration Act 1958 (Cwlth).

Principal place of residence

The principal place of residence of a person is the home they live in. A person can only have one principal place of residence.

Q

R

Related person

A related person is a parent, child, grandparent, sibling, uncle or aunt of an applicant, or the spouse of any of these. 

Registration confirmation statement

A Registration Confirmation Statement is a certificate issued by the Department of Environmental and Resource Management detailing the registered owner of a particular property.

Relevant interest

A relevant interest is the legal entitlement to, and a right to occupy, the home. Generally, the holder of the interest will be the registered owner of the home.

A full definition can be found in section 8 of the Act.

Rental purchase agreement

A rental purchase agreement is a contract to buy a home by paying it off in instalments. The property is not transferred into the buyer’s name until the whole home has been paid for. 

See Public Ruling FHOGA008.2—Rental purchase agreements for more information.

Residence requirement

As a condition of the grant, you must meet the residence requirement. This means that you must move into your home within 12 months of acquiring it and live there continuously for at least 6 months.

A full definition can be found in section 15 of the Act.

Residential property

Residential property is land in Australia on which there is a home.

S

Spouse

A person is another person’s spouse if they are legally married to each other or have been living together as de facto partners on a genuine domestic basis for 2 years or more, regardless of gender.

A full definition can be found in section 9 of the Act.

Supporting documentation

Supporting documentation is the written evidence you need to provide with your application to show that you are eligible for the grant.

T

U

V

W

X

Y

Z