Senate Economics Legislation Committee

Help to Buy (Commonwealth Powers) Bill 2024

This bill enables the federal Help to Buy shared equity scheme to operate in Queensland by referring specific legislative powers to the Commonwealth Parliament. Under the scheme, the Australian Government will contribute up to 40 per cent of the purchase price for a new home or 30 per cent for an existing home, helping low to middle income earners buy a home with as little as a 2 per cent deposit. Queensland is the first state to pass this legislation.