The request sought the savings in Commonwealth Rent Assistance, resulting from purchasing a home under the Coalition’s proposed super for housing policy. The super for housing policy was described in the Coalition’s 2022 election policy and would allow individuals to withdraw up to $50,000 from their superannuation (up to a maximum 40% of their superannuation balance) to purchase their first home.

The request asked to focus on 35-59-year-olds and to assume that 20% of renters would purchase a home due to the scheme.

The policy would commence from 1 July 2024 and be ongoing. The impacts on the 35-59-year-old cohort would be estimated over the forward estimates and the medium term.