Borrowers to save $4 billion in four years

Treasurer Wayne Swan told reporters that the step was a “modest long-term measure to assist more young Australians to achieve their dream of home ownership”.

The scheme, Mr Swan explained, is expected to come into effect in the second half of 2008 and will allow low income earning first home buyers to attract a government contribution equal to a 15 per cent discount on their marginal tax rate for up to $5,000 saved.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 05 February 2008