Dutton Announces Tax Deductible Mortgage Repayments for First-Home Buyers

April 13, 2025 TruthUSA

SYDNEY, Australia—Opposition Leader Peter Dutton has launched his campaign in Western Sydney, promising to restore the dream of homeownership for Australians.

In a new policy announcement, Dutton revealed a tax deduction on interest payments for Australians who buy their first home.

At the Liverpool Catholic Club in southwest Sydney, where the Coalition hopes to peg back the seat of Werriwa, Dutton spoke to a crowd of supporters, colleagues, and party heavyweights.

In front of three former prime ministers, John Howard, Scott Morrison, and Tony Abbott, and with the support of family, Dutton pitched his vision for an alternative Australia.

“Today, I announce a new policy for first-home buyers who purchase a newly built property to live in. A Coalition government will allow you to deduct interest payments on the first $650,000 of a mortgage against your taxable income,” Dutton said on April 13.

“We will allow these deductions for five years, provided you continue to live in that home for that period.”

This new policy would be available to individuals with a taxable income of up to $175,000 and joint applicants with a total income of up to $250,000.

He also reiterated that the Coalition would allow Australians to access up to $50,000 of their super towards a deposit for their first home.

During his speech, Dutton reflected on the fact that too many Australians had been locked into perpetually renting, despite working hard and diligently saving.

“Some are moving back in with their parents. I won’t accept a situation in our country where the only people who can buy a home are those who can rely on the bank of mum and dad,” Dutton said.

Policies on Offer

To reduce housing pressure, Dutton highlighted his previously announced policies, including limiting migration, capping the number of international students starting study in Australia, and banning foreign investors from purchasing existing homes for two years.

“I will be a prime minister who restores the dream of home ownership,” he said.

“With these measures, we anticipate we will reduce net overseas migration in our first year by 100,000 relative to Labor,” he added.

Dutton also announced a tax cut of up to $1,200 for more than 10 million working Australians in the 2026 financial year.

He also promised that if elected, MP for Lindsay, Melissa McIntosh, would become the first-ever Minister for Western Sydney, which he described as “one of the most important battlegrounds of this election.”

On the health front, Dutton said his government would invest $9 billion into Medicare, including funding to incentivise junior doctors to work as GPs to address shortages.

Dutton reiterated that subsidised mental health sessions will double from 10 to 20 on a permanent basis.

Public hospitals will receive $1.7 billion worth of extra funding, while youth mental health services will receive a $400 million boost.

On the defence front, the Opposition leader emphasised the Coalition would return the Port of Darwin to an Australian government-approved operator.

He also said the Coalition would soon announce a “significant investment in defence,” adding that there was a need to equip the military “at speed and scale.”

“The Albanese government rightly describes these times as the most dangerous since the Second World War. And yet, its defence legacy is one of $80 billion in cuts and delays, capability hold-ups, and the cannibalisation of programs to pay for others,” he said.

The Opposition leader expressed confidence he could win the election.

“Do I believe we can win the election? Absolutely I do. We can and we must,” he said.

Labor Campaigns in Perth

Meanwhile, the Australian Labor Party is holding a campaign launch in Western Australia.

During a campaign speech, Albanese said his government had achieved strong results in Medicare, wage increases for aged care, more funding for schools and fee-free Tafe.

“My fellow Australians, these are the strong foundations that we have laid together. Now we have to keep building—new homes, new infrastructure, new energy, and, more than bricks and mortar, the building blocks of a good life, for you, and for your family,” Albanese told supporters.

He revealed that Labor will provide all first-home buyers with access to a 5 percent deposit if elected. Currently, it is restricted to those earning less than $125,000 for singles and $200,000 for couples.

Albanese also unveiled a plan to spend $10 billion on 100,000 new homes.

“We know the long-term fix to housing is to build more homes. That’s why the Albanese Government will also invest $10 billion to partner with state developers and industry, to build up to 100,000 homes—with these homes reserved for sale only to first home buyers,” Albanese and Housing Minister Clare O’Neil said.

“We want more Australians to buy a home of their own sooner—with lower deposits.”

Source link