On 3 November 2009, the State Revenue Legislation Amendment (Defence Force Concessions) Act 2009 (NSW) (Act) was enacted.
The Act will expand the criteria for NSW First Home Owner Grants to assist Australian Defence Force (ADF) personnel to qualify for the grant by, in particular, removing the residency requirement that the applicant reside in the house for a continual period of six months commencing within one year of the purchase or completion of the construction of the house.
As a result of the Act, permanent ADF personnel who are on the NSW electoral roll will be exempt from the six month residency requirement. Whilst applicants will no longer be disqualified from receiving the grant for failing to meet this requirement, the applicants must meet the other eligibility criteria to benefit from the scheme.
The Act applies to eligible transactions entered into on or after 21 October 2009 and when at least one of the applicants is a permanent ADF employee as at the date of the transaction.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
