SCHEDULE 1Meaning of owner-occupier payments

PART 2UC claimants

Application of Part 24

This Part applies to UC claimants.

Payments of interest on loans and alternative finance payments5

1

“Owner-occupier payments” means—

a

payments of interest on a loan which qualifies under sub-paragraph (2);

b

alternative finance payments within the meaning of sub-paragraph (3).

2

A loan qualifies under this sub-paragraph if it is secured on the relevant accommodation.

3

“Alternative finance payments” means payments that are made under alternative finance arrangements which were entered into to enable a person to acquire an interest in the relevant accommodation.

4

“Alternative finance arrangements” has the meaning given in Part 10A of the Income Tax Act 200783.