Commonwealth Numbered Acts

Home Deposit Assistance Act 1982 No. 40 of 1982 - SECT 39

Division 4-Amount of Grant

39. (1) In ascertaining the amount of a grant to a sole applicant or to
joint applicants, the succeeding provisions of this section apply.

(2) Subject to this section, if the relevant savings period is not less than 1
year but less than 2 years, the amount of the grant is $1,250 or the amount of
the acceptable savings as at the prescribed date, whichever is the lesser.

(3) Subject to this section, if the relevant savings period is not less than 2
years, the amount of the grant is-

   (a)  the amount of the acceptable savings as at the prescribed date;

   (b)  the sum of the amount of the acceptable savings as at the first day of
        the period of 1 year ending immediately before the prescribed date and
        $1,500; or

   (c)  $2,500,
whichever is the least.

(4) Subject to this section, where the amount of the prescribed earnings
exceeds the lower relevant amount but does not exceed the higher relevant
amount, the amount of the grant is the amount ascertained in accordance with
the formula-

a (b-c)
--------
(b-d)
where-

a is the amount that, but for this sub-section and sub-sections (6) and (7),
would be the amount of the grant;

b is the higher relevant amount;

c is the amount of the prescribed earnings; and

d is the lower relevant amount.

(5) For the purposes of sub-section (4)-

   (a)  the lower relevant amount is $18,900 or, if the regulations otherwise
        provide, such amount as is ascertained in accordance with the
        regulations; and

   (b)  the higher relevant amount is $21,700 or, if the regulations otherwise
        provide, such amount as is ascertained in accordance with the
        regulations.

(6) Where, but for this sub-section, the amount of the grant would include a
fraction of a dollar, then-

   (a)  if the fraction is less than one-half-the fraction shall be
        disregarded; or

   (b)  in any other case-the fraction shall be treated as a dollar.

(7) The grant shall not be made if the amount ascertained in accordance with
this section is less than $10.

(8) Where an application has been made, or any documents furnished by an
applicant or applicants have been prepared, on the basis that the
prescribed date is a date (in this sub-section referred to as the ''assumed
date'') that is earlier or later, but not more than 14 days earlier or later,
than the prescribed date, the Secretary may, in his discretion, direct that
this section shall apply as if the references in sub-sections (2) and (3) to
the prescribed date were references to the assumed date.

PART IV-FAMILY BONUSES