BUILDING BONUS GRANTS
783. Hon PETER COLLIER to
the minister representing the Treasurer:
This question without notice of
which some notice was given is asked on behalf of Hon Dr Steve Thomas, who is
on urgent parliamentary business.
I refer to the government's
$20 000 building bonus grants.
(1) Can an
applicant use the application for the grant in an application for finance to
purchase a building?
(2) Can an
applicant use the application for payment as part of their deposit in an
application for finance?
(3) What
government statements are required to allow an applicant to use the grant in an
application for finance or as a deposit?
(4) Has the
government made a determination in this matter; and, if not, why not?
Hon
STEPHEN DAWSON replied:
I thank Hon Dr Steve Thomas for some
notice of the question. The following answer has been provided to me by the
Treasurer.
(1) Lending
practices are the responsibility of finance providers and a commercial decision
is taken in accordance with relevant regulations. Applicants should inquire
with individual finance providers.
(2) I have
written to the major financial institutions and the Australian Banking
Association on this matter and have encouraged them to consider the value of
the grants when assessing loan applications. At least one major bank has
undertaken to consider the grants as part of the deposit requirements on the
purchase of a house and land package.
(3) See answers
to (1) and (2).
(4) No
determination is required.