Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Hansard source

We are making it more attractive for older Australians to downsize and to put some of the proceeds from the sale of those properties into their super. These initiatives are working. These initiatives are working because in 2017-18 some 115,000 first home owners got a loan. That was the biggest number since 2009-10. We've heard the Reserve Bank of Australia talk about the positive developments when it comes to credit in the housing market.

We know what is being offered by those opposite—a big new tax on housing. It's a tax which will affect 100,000 teachers, nurses and military personnel, and a big tax that affects two-thirds of people who have a taxable income under $80,000. This is what one analyst said of Labor's big new housing tax: 'It would have a negative impact on buyer confidence.' So we know that, under the Liberal-National Party, when it comes to supporting Australian families we'll put more money in their pockets. We will ease their cost of living with new initiatives around child care and health. We will also ensure more affordable housing, particularly for first home buyers.

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