26th Nov 2024, 1:08 PM – Senate Help to Buy Bill 2023, Help to Buy (Consequential Provisions) Bill 2023 - in Committee - Extend and focus on specific populations

The majority voted against amendments circulated by ACT Senator David Pocock (Independent), Tasmanian Senator Jacqui Lambie (Jacqui Lambie Network) and Victorian Senator David Van (Independent).

Amendment text

SHEET 2850

(1) Clause 45, page 33 (after line 22), after subclause (1), insert:

(1A) Without limiting subsection (1), the review must consider the extent to which the operation of the Help to Buy program has:

(a) assisted in enabling access to home ownership for those otherwise likely to have been permanently excluded from home ownership; and

(b) assisted in enabling access to home ownership more quickly than likely to have been achieved without the Help to Buy program; and

(c) effectively integrated with other Commonwealth, state and territory first home buyer assistance programs, as envisaged in the National Housing and Homelessness Plan.

SHEET 2851

(1) Clause 3, page 2 (lines 13 to 18), omit the clause, substitute:

3 Object of this Act

The object of this Act is to give Housing Australia the function of entering into shared equity arrangements on behalf of the Commonwealth in relation to residential property to improve housing outcomes for as many Australians as possible by assisting low-income and middle-income individuals to buy homes, with a particular focus on improving housing outcomes for historically disadvantaged Australians including older women and First Nations peoples, and to enable individuals facing mortgage repossession and possible homelessness to remain in home ownership.

(2) Clause 25, page 17 (lines 14 to 17), omit paragraphs (2)(a) and (b).

(3) Clause 25, page 17 (after line 21), after subclause 25(2), insert:

(2A) Without limiting subsection (1), the Help to Buy Program Directions must include directions about the following matters relating to Help to Buy arrangements:

(a) a requirement for Housing Australia to enter into, as far as practicable, a minimum of 30,000 Help to Buy arrangements in each financial year;

(b) a requirement for Housing Australia to ensure, as far as practicable, that at least one third of the total number of Help to Buy arrangements in each financial year are entered into with older women or First Nations peoples.

(4) Clause 26, page 18 (after line 14), at the end of the clause, add:

(3) The Minister must not give a direction under paragraph 24(1)(a) that has the purpose, or has or is likely to have the effect, of directly or indirectly limiting:

(a) the period during which Housing Australia may enter into Help to Buy arrangements; or

(b) the total number of residential properties in relation to which Housing Australia may enter into Help to Buy arrangements.