18 janv. 1981 - Home Ownership Savings Scheme - changed

Description:

Changes to the Home Ownership Savings Scheme included:
• a reduction in the minimum savings term from three years to two years;
• raising of the $2,000.00 (per year) savings limit to 3,000;
• a tax rebate on 50 percent of interest paid on home mortgages (for first home buyers) with a maximum rebate of $1,000 per annum; and
• private savings banks became authorised savings institutions.
The Government was concerned about the obstacles to first home ownership for New Zealand families. They suggested the obstacles were twofold: acquiring an initial deposit, and the level of debt servicing for mortgages, especially in the early years of home ownership.

Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html