Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Full Day's HansardDownload Full Day's Hansard    View Or Save XMLView/Save XML

Previous Fragment    Next Fragment
Thursday, 11 November 1948

Mr LEMMON (Forrest) (Minister for Works and Housing) .- The statements to which the honorable member for Warringah (Mr. Spender) has referred have been made available to the Commonwealth by the Treasurers of the respective States. Speaking from memory, I believe that last year, most of the States showed a small credit, but New South Wales has a small debit. When we determine the rent, we allow a small percentage for tenancies which may not be filled. At present, because of the extraordinary demand for houses, all the tenancies are promptly filled. An allowance is also made for depreciation. As nearly all of the houses are newly constructed, the portion of the rent which is earmarked for depreciation is really accruing, and, therefore, is becoming a credit. A few years hence, the houses will begin to deteriorate and those credits will be absorbed in costs of maintenance. If a person purchases the house which he is occupying, the credits which will accrue will be offset against the capital cost of the home. The State Treasurers have submitted their returns for this year in accordance with the Second Schedule to the Commonwealth and State Housing Agreement, but the Commonwealth is challenging certain items which they had included as capital expenditure on the ground that they are excessive. When the position has been clarified, I shall make the returns available to honorable members .who are interested in them.

Suggest corrections