FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
A person holds a qualifying interest in a dwelling if the person is the legal owner of the dwelling (whether alone or together with others).
12(2)
Without limiting the scope of subsection (1), a person holds a qualifying interest in a dwelling if:
(a) the person is a lessee or licensee (whether alone or together with others) under a lease or licence that gives the person reasonable security of tenure over the dwelling; and
(b) in the case of a lease - the lease is a Crown lease (within the meaning of the Income Tax Assessment Act 1997 ); and
(c) in the case of a licence - the licence was granted by the Commonwealth, a State or a Territory.
12(3)
Without limiting the scope of subsection (1), a person holds a qualifying interest in a dwelling if:
(a) the person holds an equity of redemption in respect of the dwelling; or
(b) where the dwelling is a flat or home unit - the person is the legal owner of a share that:
(i) is in a company that is the legal owner of the land on which the flat or home unit is erected; and
(ii) gives the person a right to occupy the flat or home unit; or
(c) where the dwelling is in an aged care facility or retirement village - the person holds a right for him or her to occupy the dwelling.
12(4)
A person also holds a qualifying interest in a dwelling if circumstances exist as specified in regulations made for the purposes of this subsection.
12(5)
Despite anything else in the section, a person does not hold a qualifying interest in a dwelling if:
(a) the dwelling is not fixed to land; or
(b) circumstances exist as specified in regulations made for the purposes of this paragraph.
12(6)
A person acquires a qualifying interest in a dwelling when he or she starts to hold a qualifying interest in the dwelling.
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