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09 Oct 08 First Home Saver Bills receive Royal Assent

On 30 September 2008, the following Bills received Royal Assent:

  • First Home Saver Accounts (Further Provisions) Amendment Bill 2008 as Act No 92 of 2008
  • First Home Saver Account Providers Supervisory Levy Imposition Bill 2008 as Act No 93 of 2008

The First Home Saver Accounts (Further Provisions) Amendment Bill 2008 implements further aspects of the Government’s First Home Saver Accounts (FHSA) policy, and makes a number of amendments to taxation laws.

The First Home Saver Account Providers Supervisory Levy Imposition Bill 2008 introduces a framework for imposing a levy on FHSA providers to provide funding for the Australian Prudential Regulation Authority (APRA) to carry out its supervision of financial institutions which offer FHSAs.

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