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Statement by Senator the Hon Dame Annabelle Rankin Commonwealth Minister for Housing



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FOR PRESS

STATEMENT BY SENATOR TH E HON. DIJJTE A;'?N ABELLE RANKIN CO1JI1.20 NJ EAI,TH MINISTER FOR HOUSING-

Changes approved by Parliament to. the Commonwealth

Home Savings Grant Scheme are now operative.

The amendments liberalise and extend the provisions

of the Scheme to:

• raise the limit on the value of a home, including

land, from $15,000 to 17,500.

• permit the acceptance of savings in savings bank accounts and fixed deposits with trading banks,

whether or not these accounts or deposits have

been designated as Home Savings Accounts.

• allow divorced persons aged less than 36 years with the custody of one or more dependent children

to qualify under the Scheme.

These liberalisations apply to persons who contracted

to buy or build their homes on or after 27 October 1969, or who began construction as owner-builders on or after that date.

Dame Annabelle invited all young people who had not

previously applied for a grant, and who considered they might become eligible under the new conditions, to apply without delay to the Commonwealth Department of Housing in their State.

Persons who have previously applied unsuccess.y for

a grant, or who have received less than the maximum grant of

$500, need take no action as the department will review all these applications in the light of the new amendments.

"Hundreds of young people will benefit almost immed-iately from the changes", the Minister said. Most of them had

lodged applications shortly after the proposed amendments were

first announced by the Prime Minister during the general election campaign last year. Many more were expected to

benefit as the amendments become more widely known.

Dame Annabelle added that since the Scheme was first

introduced in 1964, more than 170,000 young couples had received grants amountir_g.to almost $74 million. °"It gives me a great deal of pleasure", she said, "to be able to help young

people acquire a home of their own".

CANBERRA

7 June 1970.