EXPLANATORY STATEMENT
STATUTORY RULES 1985 NO. 39
FIRST HOME OWNERS ACT 1983
Issued by Authority of the Minister for Housing and Construction
Statutory Rule No. 39 makes regulations under the First Home Owners Act 1983 relating to the maximum amounts of assistance payable.
The First Home Owners Act 1983 provides in regulation 6, 7 and 8 respectively that the maximum amounts of assistance payable shall be $7,000, $6,500 and $5,000 respectively. The Schedule to the regulations provides a table setting out the amounts of annual subsidy payable in respect of the maximum amounts specified in the regulations.
The proposed regulations will amend the maximum amounts of assistance payable under regulation 6, 7 and 8 to $6,000 $5,500 and $4,000 respectively, and will amend the amounts payable in respect of each of the annual subsidy amounts as provided in the Schedule to the Regulations.