This document details the administered, departmental and total funding amounts for capped costings included in Appendix A, Table A-1 of the 2019 Post-election report.

This document details the administered, departmental and total funding amounts for capped costings included in Appendix A, Table A-1 of the 2019 Post-election report.

This document details the administered, departmental and total funding amounts for capped costings included in Appendix A, Table A-1 of the 2019 Post-election report.

The proposal is to establish a First Home Loan Deposit Scheme (the Scheme) which will help eligible first home buyers by providing support if they do not have a 20 per cent deposit.

The costing request states that the Scheme will be capped at 10,000 recipients a year.

The Scheme will be run by the National Housing Finance and Investment Corporation (NHFIC).

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments, excluding the Australian Capital Territory (ACT), to facilitate the replacement of the existing stamp duty on sales of residential and non‐residential properties with a broad‐based land tax.

From 1 July 2023, property acquisitions would not be liable for stamp duty, but would instead be liable for an ongoing land tax.

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments, excluding the Australian Capital Territory (ACT), to facilitate the replacement of the existing stamp duty on sales of residential and non‐residential properties with a broad‐based land tax.

From 1 July 2023, property acquisitions would not be liable for stamp duty, but would instead be liable for an ongoing land tax.

This proposal has five components.

Component 1 – Federal Housing Trust

This proposal is to establish a First Home Loan Deposit Scheme (the Scheme) which would help eligible first home buyers by providing support if they do not have a 20 per cent deposit, consistent with the Coalition’s announcement – First Home Loan Deposit Scheme (PER062).

The Scheme would be capped at 10,000 recipients a year.

The Scheme would be run by the National Housing Finance and Investment Corporation.

The proposal has two components.

Component 1 – Remove negative gearing

The proposal would close the First Home Super Saver Scheme (the Scheme). Contributions made to superannuation on or after 1 July 2019 would not be able to be withdrawn under the Scheme.

Eligible superannuation contributions made prior to 1 July 2019 would be grandfathered, such that eligible individuals would still be able to withdraw those contributions and their associated deemed earnings to purchase a first home, subject to the tax on withdrawals that applies under the Scheme.