Page 3421 - Week 09 - Thursday, 20 August 2009
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Thursday, 20 August 2009
MR SPEAKER (Mr Rattenbury) took the chair at 10 am and asked members to stand in silence and pray or reflect on their responsibilities to the people of the Australian Capital Territory.
First Home Owner Grant Amendment Bill 2009 (No 2)
Ms Gallagher, pursuant to notice, presented the bill, its explanatory statement and a Human Rights Act compatibility statement.
Title read by Clerk.
MS GALLAGHER (Molonglo—Treasurer, Minister for Health, Minister for Community Services and Minister for Women) (10.01): I move:
That this bill be agreed to in principle.
The First Home Owner Grant Amendment Bill 2009 (No 2) amends the First Home Owner Grant Act 2000 to allow for the continued administration of the first-home owner boost.
On 12 May 2009, the Australian government announced the extension of the boost from 30 June 2009 to 31 December 2009. The first-home owner boost scheme is an Australian government initiative to assist first-home buyers to purchase or build their first home. The scheme is administered by the ACT government on behalf of the Australian government and is in addition to the $7,000 first-home owner grant.
First-home buyers purchasing an established home between 14 October 2008 and 30 September 2009 may be eligible for the $7,000 boost in addition to the $7,000 grant, bringing the total benefit to $14,000. For contracts made between 1 October 2009 and 31 December 2009, the amount of the boost on established homes is reduced to $3,500, making the total benefit available $10,500.
First-home buyers building a new home or purchasing a newly constructed home between 14 October 2008 and 30 September 2009 may be eligible for an additional $14,000 boost in addition to the existing $7,000 grant, bringing the total benefit to $21,000. For contracts made between 1 October 2009 and 31 December 2009, the amount of the boost is reduced to $7,000, making the total benefit available $14,000.
Where a newly constructed home is being purchased, it must be the first sale of that home and the home must also never have been previously occupied as a place of residence.
So as not to disadvantage first-home buyers who have purchased a home after 1 July 2009, the boost is currently being paid in accordance with regulations made under the First Home Owner Grant Act 2000. Provisions contained in the bill amend the First Home Owner Grant Act 2000 to incorporate the current regulations and provide for the ongoing administration of the boost.
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