EXPLANATORY STATEMENT
STATUTORY RULES 1983 NO. 134
HOME DEPOSIT ASSISTANCE ACT 1982
Issued by Authority of the Minister for Housing and Construction.
Statutory Rule 1983 No. amends regulations under the Home Deposit Assistance Act 1982 relating to the prescribed amounts for the purposes of an income test for a Home Deposit Assistance grant.
Section 39(4) of the Act provides a formula for determing the amount of grant where the prescribed earnings of the applicant or applicants exceed the lower relevant amount and do not exceed the higher relevant amount. Section 39(5) set those amounts at $18,900 and $21,700 respectively. Section 37 of the Act provides that an applicant may have his income tested for the year in which he contracted to purchase a home rather than for the previous year, in specific cirumstances where his income has fallen.
Section 33(2) provides that where the relevant year of income to be tested is not the same year for both or all joint applicants and the prescribed earnings of each applicant are summed under section 33(1)(b) and adjusted in accordance with the Regulations. Regulation 3 of Statutory Rules No. 205 of 1982 provides the appropriate formula and incorporates the relevant income limits.
Statutory Rules No. 205 of 1982 increased the income limits to $21,700 and $24,900 respectively.
These regulations prescribe $24,300 and $27,900 respectively as the lower and upper qualifying amounts and apply
(a) to applicants whose prescribed date occurs later than 30 June 1982 and no later than 30 June 1983 and in relation to whom prescribed earnings have been adjusted in accordance with Regulation 3 of the principal Regulations; and
(b) to applicants whose prescribed dates occur later than 1 July 1982 and no later than 30 June 1983, and in relation to whom an direction under section 37(1) of the Act has been made; and
(c) to applicants whose prescribed dates occur later than 30 June 1983 and in relation to whom a direction under section 37(1) has not been made.