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Housing Minister: Market 'Cooked', New Tax Changes Coming

Housing Minister: Market 'Cooked', New Tax Changes Coming

Published 1 week ago
Description

Housing Minister Clare ONeil declares the housing market cooked, proposing tax changes in the upcoming budget to boost first-time homeownership. The government aims to help seventy-five thousand rental households transition into homeownership, potentially saving first-time buyers twenty thousand dollars. Treasurer Jim Chalmers emphasizes the focus on fairness and addressing the housing markets intersection with the tax system. The Opposition, however, pushes back, suggesting theyd scrap Labors housing initiatives and link net overseas migration to housing capacity.

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