Final answer:
To qualify for a land transfer tax refund, a first-time home buyer typically must meet age requirements, occupy the home as their principal residence within a set timeframe, and have never owned a home before, among other conditions.
Step-by-step explanation:
For a first-time home buyer to qualify for a land transfer tax refund, several conditions typically need to be met.
While the specific criteria can vary by jurisdiction, common requirements include being at least 18 years old, occupying the home as a principal residence within a certain time frame after purchase, and having never owned a home, or an interest in a home, anywhere in the world.
Additionally, the buyer should not have received a home ownership interest from a spouse, and the purchase price must be below a certain threshold.
The application for a grant or refund usually accompanies the land transfer document when the home purchase is registered, and all relevant documentation supporting the first-time buyer status must be provided.