Federal Budget 2021-22 : Real Estate
Family Home Guarantee program will help single parents buy a home.
This program allows single parents with a household income of less than $125,000 to buy a home with a deposit of just 2%. The government guarantees the remainder of the deposit. There will be 10,000 places available from 1 July 2021
New Home Guarantee program
This program allows first home buyers to build or buy a new home with a deposit of just 5% with the government guaranteeing the remainder of the deposit
First Home Super Saver Scheme (FHSSS)
Anyone seeking to save a deposit for their first home can make voluntary contributions to their superannuation fund, capped at $15,000 a year, to take advantage of the special tax treatment of super. The maximum they can save under the scheme is $30,000. That cap has been raised to $50,000 in the Budget
Post-tax downsizer contribution to super when Older Austraiians sell their family home.
From 1 July 2022 the minimum age will be lowered from 65 to 60. This policy is designed to encourage downsizing and free up larger homes for families
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