Page 2236 - Week 08 - Thursday, 10 September 1992
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MINISTER FOR HOUSING AND COMMUNITY SERVICES
FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
QUESTION NO 251
Rental Bonds Trust Find
MR CORNWELL = Asked the Minister for Housing and Community Services upon Notice on 11 August 1992:
In relation to the operations of the Rental Bond Board, at 30 June 1992
(1) How much money was held in escrow by the Board.
(2) How much has been paid out to landlords anyhow many bonds does. this figure represent.
(3) Is the money held in escrow .by. the Board being invested and, if so,, for what purposes) is the interest-being used and how mach interest is involved:
MR. CONNOLLY - The answer to the members question is as follows:
(1) At 30 June 1992; the ACT Office. of Rental Bonds Trust Account held
$10,232,870:
(2) Claims forrefunds of bonds totalled 5,1.17to 30 June-1992. This
. represents $3,280;781 However; desegregated figures forrefunds are .
not yet available: However; a partial survey, of bend records indicates
that approxamately.40% of claims involved some deductions from-
bonds for landlords,.and dippro)6imately,16% of the total monies paid
. out from the Trust Fund have gone to landlords.
- (3) - Bond movies held in trust are invested through the ACT Borrowing
and Investment Trust administered by the Treasury. The -Landlord
and Toner# (Amendment) Act 1991 requires that any. interest earned
an vestment of bond movies will. be used to coverthe operational
ousts of the Office of Rental Bonds. Any surplus beyond these costs
gay be applied to: -
• the provision of landlord and tenant information programs
• facilitating assistance in the provision -of residential accommodation.
At 30 June 1992, $486,630 had been earned from investing ironies taken into the TrustFund. These earnings are fully committed to repay the, appropriations provided by Treasury in 1990-91 and 1991-92 to establish the Office.
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