Friday, June 21, 2013

A quiet word on the budget

It would be remiss of us to let the week pass without a quiet word on the NSW State Budget for 2013-14.

... And a quiet word is really all that's required.

It's not a particularly exciting budget for tenants - it's pretty much business as usual.

There'll be no significant change in the supply of housing and tenancy management services from the NSW Government.

There will be no increase in funding for Tenants Advice & Advocacy Services, even though it is sorely needed. (The Consumer, Trader & Tenancy Tribunal gets an increase of half-a-million bucks, though...)

Tenants who are also potential home buyers might have been on the look-out for changes to the First Home Owner Grants scheme. This controversial scheme was restricted to new builds in New South Wales in last year's budget (and similar restrictions apply in other states as well). Well, there was no change, but the planned reduction in the grant from $15k to $10k, which was scheduled to occur in Jan 2014, was put on hold until Jan 2016.

We'll leave it to others to comment on that.

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