Jonathon Duniam (Tasmania, Liberal Party, Shadow Minister for Environment, Fisheries and Forestry) Share this | Hansard source

It's obviously hard to regain composure as a collective, and we shall do that now. I'm going to be serious and sensitive now. But this bill, which we support—and I'm almost at the end of my contribution here now; I'm coming quite near to the end of my analysis of this legislation, which is amazing—supports pensioners or other eligible income-support recipients during the sale and purchase of a new home by, firstly, extending the existing assets test exemption for principal home sale proceeds which a person intends to use to purchase a new principal home from 12 to 24 months and, secondly, applying only the lower below-threshold deeming rate to these asset-test-exempt principal home sale proceeds when calculating deemed income, two important elements, and for those reasons the coalition supports the bill.