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17 Sep 08 Further Home Saver Bills passed by House

On 17 September 2008, First Home Saver Accounts (Further Provisions) Amendment Bill 2008 and First Home Saver Account Providers Supervisory Levy Imposition Bill 2008 were passed by the House of Representatives without amendment. The Bills were introduced into the House on 4 September 2008: see 2008 TAXVINE No 35 (14) (5 September 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.

The Bills now proceed to the Senate.

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