Dear Friend,

Since January, a new program has been helping Australians buy their first home sooner. 

Already, around 6,000 Australians have signed up to the First Home Loan Deposit Scheme.

With the help of a Government guaranteed loan, first home buyers can now get into the market with a deposit of as little as 5 per cent. 

The Scheme is available to 10,000 people this financial year, with another 10,000 places available from 1 July 2020. This will help Australians buy a home years earlier. 

While the Scheme is most popular among people under 30, it is also helping people in their 40s and 50s buy their first home. 

Families are also being assisted by tax relief. By the time our plan is fully implemented, 94% of taxpayers will pay no more than 30 cents in the dollar. 

Recent ABS inflation statistics also contain some positive news for families: 

• Electricity prices fell by 3.5% last year. 
• Child care costs are 4.2% lower since June 2018, when the Government’s Child Care Subsidy was introduced.

The Morrison Government is working to build our economy, so you can secure your future. 

Regards, 

Michael Sukkar
Minister for Housing and Assistant Treasurer