NSW First Home Owners Grant - Residency Requirement

[Jchappe4]

I received a first home buyers grant for an off the plan unit from the state government at the end of 2016. I settled on 21st December 2016 and have been living in the unit since (aprox 4 months). The residency requirement is detailed in the legislation as follows:

(1) An applicant for a first home owner grant must:
(a) commence occupation of the home to which the application relates as the applicant’s principal place of residence within 12 months after completion of the eligible transaction or the period approved by the Chief Commissioner under this section, and (already commenced using it as PPR)
(b) occupy the home as a principal place of residence for a continuous period of at least 6 months or the period approved by the Chief Commissioner under this section.

Here's my question.

I'm looking to sell the unit but and wanted to know whether it would be the settlement date or the date contracts exchange that I would be considered to no longer "occupy" the unit. My plan was to market it now and try and get the buyer to agree to a 60 day settlement period so that I could finish off the 6 month residence requirement and then settle a few days after it is over. Is this approach consistent with the legislation?

 

[Lance]

Hi,
My view would be that as long as you don't have another place of permanent residence within that time and you settle after that 6 month period you should fulfil the requirement.