Commonwealth Numbered Regulations

1985 No. 267 FIRST HOME OWNERS REGULATIONS (AMENDMENT) - REG 1

1. Regulation 4A of the First Home Owners Regulations is repealed and the
following regulation substituted: Prescribed earnings

"4A. For the purposes of section 19 of the Act, in relation to an applicant in
relation to whom a direction is in force under section 22 of the Act, the
amount of the taxable income of the applicant for the relevant year of income
is that amount as reduced in accordance with -

   (a)  if the prescribed date in relation to the applicant is a date not
        later than 30 June 1984 and the relevant year of income in relation to
        the applicant is the current year of income - the formula -
24,300 A
--------- ;
25,900

   (b)  if the prescribed date in relation to the applicant is a date not
        later than 30 June 1984 and the relevant year of income in relation to
        the applicant is the succeeding year of income - the formula -
24,300 A
--------- ; or
27,600

   (c)  if the prescribed date in relation to the applicant is a date later
        than 30 June 1984 and not later than 30 June 1985 and the relevant
        year of income in relation to the applicant is the current year of
        income - the formula -
25,900 A
-------- ,
27,600 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
in relation to the applicant.".