House debates

Monday, 2 June 2008

First Home Saver Accounts Bill 2008; Income Tax (First Home Saver Accounts Misuse Tax) Bill 2008; First Home Saver Accounts (Consequential Amendments) Bill 2008

Second Reading

1:38 pm

Photo of Danna ValeDanna Vale (Hughes, Liberal Party) Share this | Hansard source

Thank you, Mr Deputy Speaker. Indeed, I am—I could not be more focused on a particular policy or a particular piece of legislation. As I was saying, the federal government could allocate a portion of the $3 billion a year that it spends to keep people as renters to fund up to 20 per cent of the cost of a house and land package constructed for a price—and let us say, $250,000—and that would be sold to approved applicants who are currently on state government public housing waiting lists or other low-income earners who may wish to buy in. Three-quarters of this 20 per cent could be allocated as a co-contribution to the approved purchaser as a deposit on the $250,000 house and land package. The remaining quarter could be allocated to the developer as an incentive to provide housing in the market sector.

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