New scheme to help first home buyers
Feb 18, 6 months ago

New scheme to help first home buyers

The Government has passed new laws to implement the First Home Loan Deposit Scheme.

Editor: This measure is in addition to the First Home Super Saver Scheme, which helps Australians build a deposit for a first home inside their superannuation fund by making voluntary contributions.

The First Home Loan Deposit Scheme is designed to facilitate earlier access to home ownership for first home buyers, by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5%, supporting 10,000 first home buyers each financial year.

Applicants will be subject to eligibility criteria, including having taxable incomes up to $125,000 per annum for singles, and up to $200,000 per annum for couples.

The Scheme will apply to owner-occupied loans on a principal and interest basis, and will be subject to regional price caps.

The legislation also establishes a new housing research function that will allow the National Housing Finance and Investment Corporation to examine housing demand, supply and affordability in Australia, complementing existing housing-related research.

Share "New scheme to help first home buyers" via

More in Uncategorized
May 8, 3 months ago

Our app has been updated to include a COVID-19 Resource Kit!

As your accountant, it’s our job to ensure your business stays informed, compliant and tax efficient, and with this in mind we have recently updated the David O’Brien and Associates mobile app. The app is completely free of charge to you as one o…

Read   Comments are off
Apr 15, 4 months ago

The JobKeeper Payment – 50 Questions & Answers

On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrum…

Read   Comments are off
Apr 9, 4 months ago

COVID-19 – Temporary Amendments to the Clerks Award

Last week we received communication from Turnbull Hill Lawyers, one of our trusted local lawyers regarding The Fair Work Commission recently approving an urgent change to the Clerks-Private Sector Award 2010 (Clerks Award). The change is the insertio…

Read   Comments are off