Peter Dutton has outlined the Coalition's first home buyers plan at the Liberal Party campaign launch in Sydney.
The proposed housing policy would apply to first time buyers of newly built homes and would allow them to deduct mortgage interest payments from income taxes under a Coalition government.
In what would be a controversial but historic structural change to the nation's tax system, the policy would mean a family on average incomes would be about $11,000 a year better off — or $55,000 over five years.
As first revealed by the ABC, the "first home buyers mortgage deduction scheme" would be limited to five years and the first $650,000 of a mortgage.
It would also be means-tested at $175,000 for singles and $250,000 for couples.
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on X (Twitter): http://twitter.com/abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia
--
Support podtube.me continuity as a free service. Become a Patreon or make an one-time donation
--
Video at Youtube: https://www.youtube.com/watch?v=1BRmsaO8l_Y