Commonwealth Numbered Regulations

1984 No. 197 FIRST HOME OWNERS REGULATIONS (AMENDMENT) - REG 1

Regulation 5 of the First Home Owners Regulations is repealed and the
following regulations are substituted: Prescribed earnings

"4A. For the purposes of section 19 of the Act, in relation to an applicant in
relation to whom-

   (a)  a direction is in force under section 22 of the Act;

   (b)  the prescribed date is a date not later than 30 June 1984; and

   (c)  the relevant year of income is the current year of income, the amount
        of the taxable income of the applicant for the relevant year of income
        is that amount as reduced in accordance with the formula-
A X B
-------
C 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;
B is 24,300; and
C is 25,900. Relevant amounts for the purposes of section 23 of the Act

"5. (1) For the purposes of section 23 of the Act, the higher relevant amount
is-

   (a)  in the case of a sole applicant in relation to whom the prescribed
        date is a date later than 21 August 1984 and who does not have a
        dependent child-$13,950; and

   (b)  in any other case-$27,900.



"(2) For the purposes of section 23 of the Act, the lower relevant amount is-

   (a)  in the case of an applicant in relation to whom the prescribed date is
        a date not later than 21 August 1984-$24,300;

   (b)  in the case of a sole applicant in relation to whom the prescribed
        date is a date later than 21 August 1984 and who does not have a
        dependent child-$10,000; and

   (c)  in any other case-$20,000.".