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2w ago

Dutton and Albanese Launch Campaigns with Competing Housing and Tax Proposals

The Coalition unveils a $1,200 tax offset and mortgage deductions, while Labor pledges $10 billion for 100,000 new homes and 5% deposit guarantees for first-time buyers.

Australian Prime Minister Anthony Albanese attends a press conference after visiting Government House to dissolve Parliament and call an election in Canberra, Australia, March 28, 2025. AAP/Mick Tsikas via REUTERS//File Photo
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Overview

  • Peter Dutton has announced a one-off $1,200 Cost of Living Tax Offset targeting middle-income earners, benefiting around 85% of taxpayers and costing $10 billion.
  • The Coalition also introduced a proposal allowing first-time buyers of newly built homes to deduct mortgage interest from taxable income, offering up to $11,000 in annual savings for eligible families.
  • Anthony Albanese launched a $10 billion housing package to build 100,000 homes for first-time buyers, with plans to allow purchases with a 5% deposit and no lenders mortgage insurance.
  • Labor's housing policy removes income caps and includes government guarantees on deposits to make homeownership more accessible for younger Australians.
  • Both leaders are using these policies as key platforms for their election campaigns, with Dutton focusing on immediate cost-of-living relief and Albanese emphasizing long-term housing affordability.