Housing Australia operates under a defined governance framework to ensure accountability and compliance with legislative requirements. Key governance matters are outlined in this section.
Housing Australia is part of the Department of the Treasury portfolio of agencies, with the Minister for Housing as its primary responsible minister. Housing Australia also reports to the Minister for Finance as the minister responsible for financial oversight for Specialist Investment Vehicles.
The duties of the responsible Minister are set out in the Housing Australia Act 2018. The Minister issues directions through an Investment Mandate, covering strategic priorities, policy frameworks, decision-making criteria, financial limits, and risk parameters (excluding specific financing decisions).
The Minister appoints the Housing Australia Board which oversees the organisation. Within the scope of the Investment Mandate and Help To Buy Program Directions, the Board determines the strategies and policies to be followed by Housing Australia and ensures the proper, efficient and effective performance of Housing Australia's functions. The Chief Executive Officer is responsible for day-to-day administration and reports to the Board.
The Board must keep the Minister informed about Housing Australia’s operations and provide any information the Minister may require. In addition to the Housing Australia Act and Investment Mandate, the Minister has issued the Housing Australia Board with a Statement of Expectations (SOE). The Board has responded with a Statement of Intent (SOI).
Housing Australia Act
Housing Australia was established under the Housing Australia Act 2018, that outlines the organisation’s core functions:
- Provides the Board with statutory responsibility for deciding Housing Australia’s strategies and policies, within the scope of the Investment Mandate and Help To Buy Program Directions, and ensuring the proper, efficient and effective performance of Housing Australia’s functions
- Provides for the appointment of the Housing Australia CEO, who is responsible for the day-to-day administration of Housing Australia, subject to and in accordance with the policies determined by the Board
- Requires the Board to ensure that Housing Australia maintains commercially sound and sufficient levels of capital and reserves
- Allows Housing Australia to borrow money.
Under the Public Governance, Performance and Accountability Act 2013, Housing Australia is classified as a corporate Commonwealth entity, being a body corporate that is legally separate from the Commonwealth.
Housing Australia Investment Mandate
Housing Australia operates under an Investment Mandate set out by the Australian Government. The Investment Mandate provides directions to Housing Australia’s Board on:
- Housing Australia’s investment functions, including applicant eligibility and financing criteria
- The strategies and policies to be followed in the performance of Housing Australia’s functions
- Governance, reporting and transparency requirements.
As part of the Department of the Treasury's portfolio, Housing Australia works closely with the Australian Government and the Department of the Treasury to support the design, implementation and ongoing refinement of housing policy and programs. This includes providing advice, market insights and delivery expertise to help ensure government investments are targeted, effective and aligned with broader economic and fiscal settings.