Housing Australia Act 2018

Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

strengthening efforts to increase the supply of housing; and

encouraging investment in housing (particularly in the social or affordable housing sector); and

providing finance or grants that complement, leverage or support Commonwealth, State or Territory activities relating to housing; and

contributing to the development of the scale, efficiency and effectiveness of the community housing sector in Australia; and

assisting earlier access to the housing market by first home buyers; and

assisting earlier access to the housing market by:

single parents with dependants; and

legal guardians of children where the legal guardian is single; and

assisting earlier access to the housing market by individuals who have not held an ownership interest in real property in Australia in the last 10 years.

Housing Australia also has functions under the Help to Buy Act 2024. Some, but not all, of the provisions of this Act apply in relation to the Help to Buy functions.

holds, or performs the duties of, an appointment, office or position under a law of the Commonwealth; or

is otherwise in the service of the Commonwealth.

a company; and

a trust; and

a partnership.

this Act (disregarding paragraph 8(1)(ca) of this Act); or

any Commonwealth law other than the Help to Buy Act 2024.

This Act binds the Crown in each of its capacities.

This Act does not make the Crown liable to be prosecuted for an offence.

The body corporate that was established by this subsection as previously in force by the name National Housing Finance and Investment Corporation continues in existence as Housing Australia.

Subsection 25B(1) of the Acts Interpretation Act 1901 provides that a body whose name is altered by an Act continues in existence under the new name so that its identity is not affected.

The Public Governance, Performance and Accountability Act 2013 applies to Housing Australia. That Act deals with matters relating to Commonwealth entities, including reporting and the use and management of public resources.

Housing Australia:

is a body corporate; and

must have a seal; and

may acquire, hold and dispose of real and personal property; and

may sue and be sued.

Housing Australia’s seal is to be kept in such custody as the Board directs and must not be used except as authorised by the Board.

The functions of Housing Australia are:

the financing function; and

the guarantee function; and

the capacity building function; and

the Help to Buy functions; and

any other functions conferred on Housing Australia by this Act or any other Commonwealth law (other than the Help to Buy Act 2024); and

to do anything incidental or conducive to the performance of the above functions (other than the Help to Buy functions).

Housing Australia’s financing function is to make loans and grants to:

constitutional corporations, where this:

is for the purpose of improving, directly or indirectly, housing outcomes; and

assists the constitutional corporation in the performance or development of its activities, functions, relationships or business; and

States and Territories, where this:

is for the purpose of improving, directly or indirectly, housing outcomes; and

is provided by way of a grant of financial assistance to the State or Territory; and

entities, where this is for the purpose of improving, directly or indirectly, housing outcomes:

in a Territory; or

for Aboriginal or Torres Strait Islander people; or

for members of the Australian Defence Force; or

for aliens (within the meaning of paragraph 51(xix) of the Constitution).

Housing Australia’s guarantee function is to issue guarantees to constitutional corporations, where this:

is for the purpose of improving housing outcomes; and

assists the constitutional corporation in the performance or development of its activities, functions, relationships or business.

Housing Australia’s capacity building function is to provide business advisory services and other assistance in capacity building to:

registered community housing providers that are constitutional corporations, where this:

is for the purpose of improving housing outcomes; and

assists the registered community housing provider in the performance or development of its activities, functions, relationships or business; and

registered community housing providers, where this is for the purpose of improving housing outcomes:

in a Territory; or

for Aboriginal or Torres Strait Islander people; or

for members of the Australian Defence Force; or

for aliens (within the meaning of paragraph 51(xix) of the Constitution).

In performing its functions, Housing Australia must act in a proper, efficient and effective manner.

Subsection (3) does not apply in relation to the Help to Buy functions.

For how Housing Australia must perform the Help to Buy functions, see subsections 10(3), 15(2) and 20(2) of the Help to Buy Act 2024.

Housing Australia has power to do all things necessary or convenient to be done for or in connection with the performance of its functions.

Without limiting subsection (1), Housing Australia may:

enter into arrangements and contracts with Commonwealth entities and Commonwealth companies to obtain services to assist in the performance of its functions; and

enter into:

arrangements known as swaps, foreign exchange agreements, forward rate agreements, options or hedge agreements; or

arrangements having a similar purpose or effect.

Section 59 of the Public Governance, Performance and Accountability Act 2013 also gives Housing Australia the power to invest money that is not immediately required for the purposes of Housing Australia.

This section does not apply in relation to the Help to Buy functions.

For Housing Australia’s powers in relation to the Help to Buy functions, see sections 11, 16 and 21 of the Help to Buy Act 2024.

This section applies in relation to Housing Australia’s financing function, guarantee function and capacity building function.

An entity may apply to Housing Australia for any of the following in circumstances where the Investment Mandate provides that Housing Australia must consider such an application:

the making of a loan or grant;

the issuing of a guarantee;

for assistance in capacity building.

Housing Australia must consider the application:

within the timeframe specified in the Investment Mandate (if any); and

in accordance with the decision‑making criteria and limits specified in the Investment Mandate.

Housing Australia may only make loans and grants to, issue guarantees to or provide assistance in capacity building to, an entity in the performance of its functions mentioned in subsection (1) if the entity has applied to Housing Australia for the loan, grant, guarantee or assistance in capacity building under subsection (2).

The terms and conditions on which the loan, grant, guarantee or assistance in capacity building is provided must be set out in a written agreement between Housing Australia and the entity.

The entity must comply with the terms and conditions.

If, under the terms and conditions set out in the written agreement, an amount is payable to Housing Australia:

the amount is a debt due by the entity to Housing Australia; and

the amount is recoverable by action in a court of competent jurisdiction.

The Minister may, by legislative instrument, give the Board directions about the performance of Housing Australia’s functions, and must give at least one such direction. The directions together constitute the Investment Mandate.

Section 42 (disallowance) of the Legislation Act 2003 does not apply to the direction—see regulations made for the purposes of paragraph 44(2)(b) of that Act.

For the Help to Buy functions, see subsection 14(2).

In giving a direction, the Minister must have regard to the object of this Act and any other matters the Minister considers relevant.

In performing its functions, Housing Australia must take all reasonable steps to comply with the Investment Mandate.