First Home Owners Regulations (Amendment) (Cth)

Statutory Rules 1985 No. 2671

————

First Home Owners Regulations2

(Amendment)

I, THE ADMINISTRATOR of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the First Home Owners Act 1983.

Dated 11 October 1985.

J. A ROWLAND

Administrator

By His Excellency’s Command,

Stewart West

Minister of State for Housing

and Construction

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1. Regulation 4a of the First Home Owners Regulations is repealed and the following regulation substituted:

Prescribed earnings

“4a. For the purposes of section 19 of the Act, in relation to an applicant in relation to whom a direction is in force under section 22 of the Act, the amount of the taxable income of the applicant for the relevant year of income is that amount as reduced in accordance with—

(a) if the prescribed date in relation to the applicant is a date not later than 30 June 1984 and the relevant year of income in relation to the applicant is the current year of income—the formula—

 ;

 

(S.R. 256/85)—Cat. No. 10/16.9.1985

 

(b) if the prescribed date in relation to the applicant is a date not later than 30 June 1984 and the relevant year of income in relation to the applicant is the succeeding year of income—the formula—

 ; or

(c) if the prescribed date in relation to the applicant is a date later than 30 June 1984 and not later than 30 June 1985 and the relevant year of income in relation to the applicant is the current year of income—the formula—

 ,

where A is the amount that, but for this regulation, would be the amount of the taxable income of the applicant for the relevant year of income in relation to the applicant.”.

2. After regulation 26 of the First Home Owners Regulations the following regulation is inserted:

Persons prescribed for purposes of paragraph 29 (2) (b) of the Act

“27. For the purposes of paragraph 29 (2) (b) of the Act, each person who, for the time being, holds, or performs the duties of—

(a) the office of the Commissioner of Taxation; or

(b) the office of the Secretary to the Department of Social Security, is prescribed.”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 18 October 1985.

2. Statutory Rules 1983 No. 208 as amended to date. For previous amendments see Note 2 to Statutory Rules 1985 No. 39 and see also Statutory Rules 1985 No. 39.

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