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Legislative Assembly for the ACT: 2010 Week 13 Hansard (Tuesday, 16 November 2010) . . Page.. 5409 ..

The final amendment introduces a first homeowner grant property value cap of $750,000. This is equal with New South Wales, Victoria, Queensland, Western Australia and the Northern Territory. South Australia has introduced a property value cap of $575,000. This amendment will also ensure that the scheme is more targeted to the first homebuyer in need of assistance. The ACT first homeowner grant cap applies to eligible transactions that commence on or after 1 January 2001. I commend the First Home Owner Grant Amendment Bill to the Assembly.

Question resolved in the affirmative.

Bill agreed to in principle.

Detail stage

Clauses 1 to 4, by leave, taken together and agreed to.

Clause 5.

MS GALLAGHER (Molonglo—Deputy Chief Minister, Treasurer, Minister for Health and Minister for Industrial Relations) (11.12): Pursuant to standing order 182A(b), I seek leave to move an amendment to this clause. It is minor and technical in nature.

Leave granted.

MS GALLAGHER: I move amendment No 1 circulated in my name and table a supplementary explanatory statement to the government amendment [see schedule 1 at page 5486].

This amendment is technical in nature and clarifies the policy intention. The only change to this provision is that it inserts a commencement date for the new provision and clarifies the operation of the provision for eligible transactions before the commencement of the amendment.

Amendment agreed to.

Clause 5, as amended, agreed to.

Clause 6 agreed to.

Clause 7.

MS HUNTER (Ginninderra—Parliamentary Convenor, ACT Greens) (11.13): I move amendment No 1 circulated in my name [see schedule 2 at page 5486].

As I said in the in-principle debate, there is a significant concern about the efficacy of the scheme. It does not achieve the aim now assigned to it. The scheme costs the ACT a significant amount of money at a time when we particularly need to be prudent in

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