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Dear Friend,
 
To help Australians, we will deliver both immediate cost of living relief and a long-term economic plan.
 
This includes reducing petrol tax by 25 cents per litre for 12 months. This will save you around $14 dollars for every tank. 
 
We will also deliver tax relief for more than 10 million taxpayers. 
 
Our Cost-of-Living Tax Offset means Australians earning up to $144,000 will get up to $1,200 in tax relief when they lodge their tax return (for 2025-26). 
 
Eighty five percent of taxpayers will get some tax relief.
 
Today, we also announced another part of our plan to revive the dream of home ownership. 
 
For generations, owning a home has provided people with security, stability and pride. It has been a cornerstone of the Australian dream.
 
Under Labor however, soaring mortgages and rents mean this dream is slipping away. 
 
To address this, our First Home Buyer Mortgage Deductibility Scheme will provide a tax deduction for interest payments for the first five years of a mortgage. 
 
Here’s how it works: 

- First home buyers who buy a newly built house or apartment, as their principal place of residence, will be eligible.
- Buyers can deduct the interest paid on the first $650,000 of their mortgage.
- There is no cap on the mortgage size or home price. 
- Individuals earning up to $175,000 and joint buyers with a combined income of up to $250,000 will qualify. 
This will really help in the early – and most financially challenging – years of home ownership.
 
For example, a first home buyer with an income of $120,000 and a $650,000
mortgage (at 6.1%) will benefit by around $12,000 a year.
 
This is part of our comprehensive plan to make housing more affordable. Our plan also includes: 

- Boosting supply. We will invest in water, sewerage and roads infrastructure needed to unlock 500,000 new homes. 
- Easing demand. We will introduce a two-year ban on foreign investors and temporary residents buying existing property and reduce migration from Labor’s current record levels. 
- Assisting first home buyers. We will offer the choice of using up to $50,000 of your super towards a deposit. And we will change lending rules to help young Australians access a mortgage.
- Supporting construction. We will increase apprentices and trainees to help build more homes and deregister the lawless CFMEU. 
- Low interest rates. We will deliver a strong economy with lower inflation that reduces pressure on interest rates.
With your support we can help Australians doing it tough and restore the dream of home ownership. 

Kind regards,

Peter Dutton
Leader of the Opposition

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Authorised by A. Hirst, Liberal, Canberra.
 
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