Updates · 2021 – 2026
Australian Financial News & Updates
Tax, super, mortgage rate, housing and government payment changes affecting Australian residents — each summarised from the announcement by the government agency or company that made it, and linked to the original.
All updates
79 updates, newest first
ANZ Lifts Australian Variable Home Loan Rates by 0.25% p.a. From 9 Oct 2026
ANZ said variable interest rates across its Australian home loans will increase by 0.25% p.a., effective 9 Oct 2026, following the Reserve Bank of Australia’s decision to increase the official cash rate. ANZ put the effect at approximately AUD 79 a month on an AUD 500,000 owner occupier principal and interest loan.
What changed (effective 9 Oct 2026)
- Variable home loan interest rates: up 0.25% p.a., effective 9 Oct 2026
- Monthly repayment example (ANZ): approximately AUD 79 more on an AUD 500,000 owner occupier principal and interest loan
Company announcement — figures are from ANZ Group’s own release, not an official government source.
CBA Raises Variable Home Loan Rates by 0.25% p.a. From 9 Oct 2026
CBA said it will increase its home loan variable interest rates by 0.25% p.a., with the changes effective 9 Oct 2026, following the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25% p.a.
What changed (effective 9 Oct 2026)
- Home loan variable interest rates: up 0.25% p.a., effective 9 Oct 2026
Company announcement — figures are from Commonwealth Bank of Australia’s own release, not an official government source.
NAB Increases Standard Variable Home Loan Rates by 0.25% p.a. From 9 Oct 2026
NAB said it will increase its variable home loan interest rates by 0.25% p.a. following the Reserve Bank of Australia’s decision to increase the official cash rate by 0.25% per annum, with the new rates taking effect from 9 Oct 2026. The change applies to NAB standard variable home loan rates.
What changed (effective 9 Oct 2026)
- Standard variable home loan rates: up 0.25% p.a., from 9 Oct 2026
Company announcement — figures are from National Australia Bank’s own release, not an official government source.
Westpac Raises Variable Home Loan Rates by 0.25% p.a. From 9 Oct 2026; Westpac Life to 5.25%
Westpac will increase home loan variable interest rates by 0.25% p.a. for new and existing customers, effective 9 Oct 2026, following the Reserve Bank of Australia’s decision to increase the cash rate. The Westpac Life total variable rate with bonus interest will increase by 0.25% p.a. to 5.25% p.a. from the same date.
What changed (effective 9 Oct 2026)
- Home loan variable interest rates: up 0.25% p.a. for new and existing customers, effective 9 Oct 2026
- Westpac Life total variable rate with bonus interest: 5.25% p.a. (up 0.25% p.a.), effective 9 Oct 2026
Company announcement — figures are from Westpac Group’s own release, not an official government source.
RBA Raises Cash Rate Target by 25 Basis Points to 4.60%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided to increase the cash rate target by 25 basis points to 4.60%. The Board’s decision was unanimous.
What changed
- Cash rate target: 4.60%, up 25 basis points
- Board vote: unanimous
Deeming Rates Increase to 1.75% and 3.75%
Services Australia said the deeming rates used to work out income from financial assets under the income test have increased to 1.75% and 3.75%, with the new rates applied automatically; deemed income may change the amount of a payment.
What changed
- Deeming rates: increased to 1.75% and 3.75%
- How it applies: applied automatically; deemed income is included in the income test
Pension Supplement Stops After 12 Weeks of Temporary Overseas Travel
Services Australia said Pension Supplement rules have changed for people who live or travel outside Australia: the full supplement is kept for up to 12 weeks of temporary travel and then stops, and it stops on leaving Australia to live overseas.
What changed
- Temporary travel outside Australia: full Pension Supplement kept for up to 12 weeks, then stopped
- Leaving Australia to live overseas: Pension Supplement stops on departure
- Already living overseas: Pension Supplement has stopped
Age Pension, Carer Payment and Disability Support Pension Rise from 20 Sep 2026
Services Australia said the Age Pension, Carer Payment and Disability Support Pension will increase from 20 Sep 2026, by AUD 36.80 a fortnight for singles and AUD 55.60 a fortnight for couples, with no action needed by recipients.
What changed (effective 20 Sep 2026)
- Singles: up AUD 36.80 a fortnight
- Couples: up AUD 55.60 a fortnight
- Payments covered: Age Pension, Carer Payment and Disability Support Pension
Second Tax Reform Bill Passes: Negative Gearing Kept in Certain Inheritance and Separation Cases
The Treasurer announced that the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026 passed the Parliament. It lets an individual keep negative gearing treatment for a property owned on Budget night when an ownership interest is acquired from a spouse through inheritance or relationship breakdown, or when part or all of a property is inherited by someone who already had a share.
What changed
- Negative gearing: interest acquired from a spouse: retained where acquired through an inheritance or relationship breakdown
- Negative gearing: inherited share of a property: retained where someone inherits part or all of a property in which they already had an ownership share
- New builds: keep access to negative gearing and concessional capital gains tax treatment in the same circumstances
CBA Reports FY26 Cash Net Profit of AUD 10,982 Million; Final Dividend of AUD 2.70 a Share
CBA reported cash net profit after tax of AUD 10,982 million for the year ended 30 Jun 2026, up 7% on FY25, and statutory net profit after tax of AUD 10,911 million. The Board determined a final dividend of AUD 2.70 per share, fully franked, taking the full-year dividend to AUD 5.05 per share.
Key figures
- Cash net profit after tax, FY26: AUD 10,982 million (up 7% on FY25)
- Statutory net profit after tax, FY26: AUD 10,911 million
- Final dividend: AUD 2.70 per share, fully franked
- Full-year dividend, FY26: AUD 5.05 per share, fully franked
- Dividend payout ratio: 77% of cash NPAT
Company announcement — figures are from Commonwealth Bank of Australia’s own release, not an official government source.
VIC Extends Off-the-Plan Duty Concession to 20 Apr 2027; PPR Land Tax Exemption Changes from 2027
The State Revenue Office (SRO) Victoria outlined the Building Legislation and Treasury Legislation (Tax Relief) Amendment Act 2026, which received Royal Assent on 23 Jun 2026: the temporary off-the-plan duty concession is extended by 6 months to contracts entered into up to 20 Apr 2027, and the land tax principal place of residence (PPR) exemption for homes under construction or renovation changes from 1 Jan 2027.
What changed
- Temporary off-the-plan duty concession: extended by 6 months: contracts entered into from 21 Oct 2024 to 20 Apr 2027
- PPR exemption, home under construction or renovation: from 1 Jan 2027, can apply for up to 4 years even if the works take longer
- Joint owner building or renovating a new PPR: keeps the exemption on the previous PPR for a maximum of one further year (from 2 further years)
- Emergency services and volunteers fund: increase to the fixed charge for non-PPR residential land, previously legislated for 1 Jul 2026, deferred until a date the Treasurer declares
ACT Removes Price Cap and Income Threshold from Home Buyer Concession Scheme from 1 Jul 2026
The ACT Revenue Office set out ACT Budget 2026–27 changes from 1 Jul 2026: the property price cap and income threshold are removed from the Home Buyer Concession Scheme, so eligible buyers who have not owned property in the last five years may receive a full duty concession.
What changed (effective 1 Jul 2026)
- Home Buyer Concession Scheme: property price cap and income threshold removed
- Unchanged criteria: no property owned in the last five years; at least one buyer owns and lives in the home for at least 12 months, starting within one year of settlement
- Price cap also removed from: Pensioner Duty Concession Scheme, Disability Duty Concession Scheme and the off-the-plan unit duty exemption
- New exemption: Newly Unit Titled Duty Exemption, for owner-occupiers buying a newly built unit-titled property not sold off the plan
Help to Buy Income Limits Rise to AUD 103,000 and AUD 165,000 from 1 Jul 2026
Housing Australia announced changes to the Australian Government Help to Buy Scheme from 1 Jul 2026: taxable income limits rise to AUD 103,000 for single applicants and AUD 165,000 for joint and single parent applicants, and 10,000 new places are available for 2026–27 across all states and territories.
What changed (effective 1 Jul 2026)
- Taxable income limit, single applicants: AUD 103,000
- Taxable income limit, joint and single parent applicants: AUD 165,000
- New places for 2026–27: 10,000, across all states and territories
- Availability: all states and territories, after the expansion to Tasmania in Jun 2026
HELP and Other Study Loan Minimum Repayment Threshold Rises to AUD 69,528 for 2026–27
The ATO published the 2026–27 compulsory repayment thresholds and rates for HELP and other study and training support loans. No compulsory repayment applies to repayment income of AUD 69,528 or less (AUD 67,000 or less in 2025–26), with 15c for each AUD 1 over AUD 69,528 up to AUD 129,717.
What changed (effective 2026–27)
- Nil repayment: Repayment income up to AUD 69,528 (from up to AUD 67,000 in 2025–26)
- Repayment income AUD 69,529 – AUD 129,717: 15c for each AUD 1 over AUD 69,528 (2025–26: AUD 67,001 – AUD 125,000, 15c for each AUD 1 over AUD 67,000)
- Repayment income AUD 129,718 – AUD 186,050: AUD 9,028 plus 17c for each AUD 1 over AUD 129,717 (2025–26: AUD 8,700 plus 17c for each AUD 1 over AUD 125,000)
- Repayment income AUD 186,051 and over: 10% of total repayment income (2025–26: AUD 179,286 and over)
- Loans covered: HELP, VET Student Loan, Student Financial Supplement Scheme, Student Start-up Loan, ABSTUDY Student Start-up Loan and Australian Apprenticeship Support Loan
Tax Reform Bill Passes: WATO, Instant Deduction, Negative Gearing and CGT Changes
The Treasurer announced that the first Bill of the tax reform package passed Parliament. It includes the Working Australians Tax Offset (WATO) and the instant tax deduction for workers, limits future negative gearing to new builds from 1 Jul 2027 with grandfathering for current investment property owners, and changes capital gains tax from 1 Jul 2027.
What changed
- Working Australians Tax Offset (WATO): legislated
- Instant tax deduction for workers: legislated
- Negative gearing: new builds only from 1 Jul 2027; grandfathering for current investment property owners
- Capital gains tax: changes apply from 1 Jul 2027
QLD Continues AUD 30,000 First Home Owner Grant; Duty Home Concessions Limited to Citizens and PRs
The Queensland Revenue Office (QRO) outlined 2026–27 Queensland Budget measures: the AUD 30,000 first home owner grant continues for eligible contracts signed from 1 Jul 2026, and transfer duty home concessions are limited to Australian citizens, permanent residents and specified foreign retirees for transactions entered into from 1 Aug 2026.
What changed
- First home owner grant: AUD 30,000, continued for eligible contracts signed from 1 Jul 2026
- Transfer duty home concessions: limited to Australian citizens, permanent residents and specified foreign retirees buying a home, first home or first-home vacant land
- Concession eligibility change applies to: transactions entered into from 1 Aug 2026
- Status: details to be available once the legislation is passed and receives Royal Assent
Medicare Levy Surcharge and Private Health Insurance Rebate Thresholds Rise From 1 Jul 2026
The ATO said the income thresholds used to calculate the Medicare levy surcharge (MLS) and the private health insurance rebate increased from 1 Jul 2026. For 2026–27 the single base tier is AUD 105,000 or less (from AUD 101,000 or less) and the family base tier AUD 210,000 or less (from AUD 202,000 or less).
What changed (effective 1 Jul 2026)
- Single base tier: AUD 105,000 or less (from AUD 101,000 or less)
- Single Tiers 1 to 3: AUD 105,001 – AUD 123,000; AUD 123,001 – AUD 164,000; AUD 164,001 or more (from AUD 101,001 – AUD 118,000; AUD 118,001 – AUD 158,000; AUD 158,001 or more)
- Family base tier: AUD 210,000 or less (from AUD 202,000 or less), plus AUD 1,500 for each MLS dependent child after the first
- Family Tiers 1 to 3: AUD 210,001 – AUD 246,000; AUD 246,001 – AUD 328,000; AUD 328,001 or more (from AUD 202,001 – AUD 236,000; AUD 236,001 – AUD 316,000; AUD 316,001 or more)
- Rebate rates to 31 Mar 2027, oldest person under 65: 24.118% base tier, 16.079% Tier 1, 8.038% Tier 2, 0.000% Tier 3 (same as from 1 Apr 2026)
Banks, Telcos and Digital Platforms Designated Under the Scams Prevention Framework
The Assistant Treasurer and the Minister for Communications designated banking, telecommunications and key digital platforms as the first sectors under the Scams Prevention Framework (SPF); these sectors are to have systems in place by 31 Mar 2027, when they are required to take action to prevent, detect and disrupt scams.
What changed
- First designated sectors: banking, telecommunications and key digital platforms
- Obligations to prevent, detect and disrupt scams apply: from 31 Mar 2027
- Draft rules and sector codes: released for consultation; submissions close 25 Jun 2026
- Redress paper: sets out the Government's view that scam victims with verified losses below AUD 3,000 be automatically reimbursed
Budget: AUD 250 Working Australians Tax Offset, Negative Gearing and CGT Changes
The Treasurer announced in the Budget a permanent AUD 250 Working Australians Tax Offset (WATO) from the 2027–28 income year, an AUD 1,000 instant deduction for work-related expenses from 2026–27, negative gearing limited to new builds from 2027–28, and the 50% capital gains tax (CGT) discount replaced by indexation from 1 Jul 2027 with a 30% minimum tax.
What changed
- Working Australians Tax Offset (WATO): AUD 250 a year, for tax years starting on or after 1 Jul 2027
- Instant deduction for work-related expenses: up to AUD 1,000 without receipts, from 2026–27
- Negative gearing: new builds only from 2027–28; investments made before 7:30pm AEST 12 May 2026 unchanged
- CGT discount: 50% discount replaced by indexation from 1 Jul 2027, with a 30% minimum tax on realised gains; new builds can use either
- Discretionary trusts: minimum 30% tax rate from 2028–29
Budget Extends Ban on Foreign Investors Buying Existing Homes to Mid-2029
The Treasurer, the Prime Minister and the Minister for Housing announced in the Budget on 12 May 2026 that the ban on foreign investors buying existing homes is extended until mid-2029, with the current limited exceptions for purchases of established dwellings that support housing supply continuing.
What changed
- Ban on foreign investors buying existing homes: extended until mid-2029
- Exceptions: current limited exceptions for purchases of established dwellings that support housing supply continue
Budget: Medicare Levy Low-Income Thresholds to Rise 2.9% from 1 Jul 2025; Singles AUD 28,011
The Treasurer announced in the 2026–27 Budget that the Government will increase the Medicare levy low-income thresholds for singles, families, and seniors and pensioners by 2.9% from 1 Jul 2025. The threshold for singles will rise from AUD 27,222 to AUD 28,011 and the family threshold from AUD 45,907 to AUD 47,238.
What changed (effective 1 Jul 2025)
- Singles threshold: AUD 28,011 (from AUD 27,222)
- Family threshold: AUD 47,238 (from AUD 45,907)
- Single seniors and pensioners threshold: AUD 44,268 (from AUD 43,020)
- Family threshold for seniors and pensioners: AUD 61,623 (from AUD 59,886)
- Increase for each dependent child or student: AUD 4,338 (from AUD 4,216)
WA Raises First Home Buyer Stamp Duty Exemption to AUD 600,000; FHOG Cap to AUD 800,000
The WA Government announced in the 2026–27 State Budget that, with immediate effect, first home buyers pay no stamp duty on newly built or established homes up to AUD 600,000 (from AUD 500,000), with concessions up to AUD 800,000 (from AUD 700,000). The property cap for the AUD 10,000 First Home Owner Grant (FHOG) rises from AUD 750,000 to AUD 800,000.
What changed (effective 7 May 2026)
- First home buyer exemption threshold, homes: No stamp duty on newly built or established homes up to AUD 600,000 (from AUD 500,000)
- First home buyer concession threshold, homes: Stamp duty concessions up to AUD 800,000 (from AUD 700,000)
- First home buyer vacant land: No stamp duty up to AUD 450,000 (from AUD 350,000); reduced rates up to AUD 550,000 (from AUD 450,000)
- First Home Owner Grant (FHOG) property cap: AUD 800,000 (from AUD 750,000) for the AUD 10,000 grant
- Vacant land duty relief and the FHOG cap: First home buyers building a new home can claim the exemption or concession on vacant land even if the new house and land exceeds the FHOG value cap
- Estimated maximum savings: Up to AUD 22,515 in stamp duty on a new or established home; up to AUD 25,390 when buying vacant land and constructing a home, including the AUD 10,000 FHOG
ANZ Lifts Australian Variable Home Loan Rates From 15 May 2026
ANZ said variable interest rates across its Australian home loans will increase by 0.25% p.a., effective 15 May 2026, following the Reserve Bank of Australia's decision that day to increase the official cash rate by 0.25%. ANZ put the effect at approximately AUD 80 a month on an AUD 500,000 owner occupier principal and interest loan.
What changed (effective 15 May 2026)
- Variable home loan interest rates: up 0.25% p.a., effective 15 May 2026
- Monthly repayment example (ANZ): approximately AUD 80 more on an AUD 500,000 owner occupier principal and interest loan
Company announcement — figures are from ANZ Group’s own release, not an official government source.
CBA Raises Variable Home Loan Rates by 0.25% p.a. From 15 May 2026
CBA said it will increase home loan variable interest rates by 0.25% p.a., effective 15 May 2026, following the Reserve Bank of Australia's (RBA) decision to increase the official cash rate by 0.25% p.a.
What changed (effective 15 May 2026)
- Home loan variable interest rates: up 0.25% p.a., effective 15 May 2026
- RBA official cash rate (trigger): up 0.25% p.a.
Company announcement — figures are from Commonwealth Bank of Australia’s own release, not an official government source.
NAB Increases Standard Variable Home Loan Rates From 15 May 2026
NAB said it will increase its variable home loan interest rates by 0.25% p.a. following the Reserve Bank of Australia decision of 5 May 2026, with the new rates taking effect from 15 May 2026. The change applies to NAB standard variable home loan rates; fixed rate loans are not affected during their fixed term.
What changed (effective 15 May 2026)
- Standard variable home loan rates: up 0.25% p.a., from 15 May 2026
- Fixed rate home loans: not affected during the fixed term
Company announcement — figures are from National Australia Bank’s own release, not an official government source.
RBA Raises Cash Rate Target by 25 Basis Points to 4.35%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided at its meeting on 5 May 2026 to increase the cash rate target by 25 basis points to 4.35%, from 4.10%. The decision was made by majority: eight members voted for the increase and one to leave the target unchanged.
What changed
- Cash rate target: 4.35% (from 4.10%)
- Board vote: eight members for the increase, one for no change
Westpac Reports 1H26 Statutory Profit of AUD 3.4 Billion; Interim Dividend of 77 Australian Cents
Westpac reported statutory net profit of AUD 3.4 billion for 1H26, down 5% on 2H25 and up 3% on 1H25, and net profit excluding Notable Items of AUD 3.5 billion. It declared an interim ordinary dividend of 77 Australian cents per share, fully franked.
Key figures
- Statutory net profit, 1H26: AUD 3.4 billion (down 5% on 2H25; up 3% on 1H25)
- Net profit excluding Notable Items, 1H26: AUD 3.5 billion (down 1% on 2H25; up 1% on 1H25)
- Interim ordinary dividend: 77 Australian cents per share, fully franked
- CET1 capital ratio: 12.4%
Company announcement — figures are from Westpac Group’s own release, not an official government source.
Westpac Raises Home Loan Variable Rates by 0.25% p.a.; Westpac Life Rises to 5.00% With Bonus
Westpac announced on 5 May 2026 that it will increase home loan variable interest rates by 0.25% p.a. for new and existing customers from 15 May, following the Reserve Bank of Australia's decision to increase the cash rate. The Westpac Life total variable rate with bonus interest rises by 0.25% p.a. to 5.00% p.a., and the eSaver standard variable rate by 0.25% p.a., from the same date.
What changed (effective May 2026)
- Home loan variable interest rates: up 0.25% p.a. for new and existing customers, effective 15 May
- Westpac Life total variable rate with bonus interest: 5.00% p.a. (up 0.25% p.a.), effective 15 May
- Westpac eSaver standard variable rate: 1.25% p.a. (up 0.25% p.a.) for all customers, effective 15 May
Company announcement — figures are from Westpac Group’s own release, not an official government source.
NAB Reports Half Year Cash Earnings of AUD 3,558 Million Excluding a Software Capitalisation Change
NAB reported cash earnings of AUD 3,558 million for the six months to 31 Mar 2026, excluding the impact of changes to its software capitalisation policy, with revenue up 3.1%. NAB declared an interim dividend of 85 Australian cents per share, returning AUD 2.6 billion to shareholders.
Key figures
- Cash earnings, six months to 31 Mar 2026: AUD 3,558 million (excluding the software capitalisation policy change)
- Revenue growth: 3.1%
- Interim dividend: 85 Australian cents per share
- Interim dividend total: AUD 2.6 billion
Company announcement — figures are from National Australia Bank’s own release, not an official government source.
ANZ Reports 1H26 Statutory Profit of AUD 3,650 Million; Interim Dividend of 83 Australian Cents
ANZ reported a statutory profit of AUD 3,650 million and a cash profit of AUD 3,780 million for the half ended 31 Mar 2026. The Board proposed a 2026 interim dividend of 83 Australian cents per share, with franking rising from 70% to 75%.
Key figures
- Statutory profit, 1H26: AUD 3,650 million
- Cash profit, 1H26: AUD 3,780 million (up 14% on 2H25 excluding 2H25 significant items)
- Interim dividend (proposed): 83 Australian cents per share
- Franking: 75% (from 70%)
- CET1 ratio at 31 Mar 2026: 12.39%
Company announcement — figures are from ANZ Group’s own release, not an official government source.
Super Guarantee Maximum Contribution Base Becomes Annual: AUD 270,830 for 2026–27
The ATO has published an annual super guarantee maximum contribution base of AUD 270,830 for 2026–27, applying from 1 Jul 2026 with Payday Super and replacing the quarterly base, which was AUD 62,500 a quarter in 2025–26. Once an employee's qualifying earnings reach it in a financial year, the employer can stop paying the minimum super guarantee for that year.
What changed (effective 1 Jul 2026)
- Maximum contribution base: AUD 270,830 a year for 2026–27 (from AUD 62,500 a quarter in 2025–26)
- How the annual base is set: Concessional contributions cap × 100 ÷ charge percentage, rounded down to the nearest multiple of AUD 10
- Super guarantee rate: Unchanged at 12% for 1 Jul 2026 – 30 Jun 2027
- Payment timing: Super guarantee paid for each payday from 1 Jul 2026 (previously at least quarterly)
Card Surcharges on eftpos, Mastercard and Visa to End from 1 Oct 2026
The Reserve Bank of Australia's Payments System Board concluded its Review of Merchant Card Payment Costs and Surcharging, deciding to remove surcharging on debit, prepaid and credit cards on the eftpos, Mastercard and Visa networks and to lower interchange fee caps, with most changes taking effect on 1 Oct 2026.
What changed (effective 1 Oct 2026)
- Surcharges on eftpos, Mastercard and Visa cards: removed from 1 Oct 2026 (debit, prepaid and credit cards)
- Interchange fee caps, domestic card transactions: reduced from 1 Oct 2026
- Interchange fee cap, foreign cards: introduced from 1 Apr 2027
- Transparency of card network and provider fees: increased; some payment cost transparency changes from 1 Apr 2027
RBA Raises Cash Rate Target by 25 Basis Points to 4.10%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided at its meeting on 17 Mar 2026 to increase the cash rate target by 25 basis points to 4.10%, from 3.85%. The decision was made by majority: five members voted for the increase and four to leave the target unchanged.
What changed
- Cash rate target: 4.10% (from 3.85%)
- Board vote: five members for the increase, four for no change
WA Extends Off-the-Plan Duty Concession to 30 Jun 2028; No Duty up to AUD 800,000
The WA Government announced that its stamp duty concession for off-the-plan and under-construction dwellings is extended to 30 Jun 2028 and now covers new survey-strata dwellings such as duplexes and triplexes, with immediate effect. No stamp duty is paid on dwellings bought off-the-plan up to AUD 800,000 (from AUD 750,000), tapering to a 50% concession above AUD 900,000.
What changed (effective 12 Mar 2026)
- Off-the-plan (pre-construction) purchases: No stamp duty up to AUD 800,000, tapering to a 50% concession above AUD 900,000 (thresholds from AUD 750,000 and AUD 850,000)
- Purchases while under construction: 75% concession up to AUD 800,000, tapering to a 37.5% concession above AUD 900,000
- Eligible dwellings: All new survey-strata dwellings added, including duplexes and triplexes, alongside apartments, townhouses, villas and units
- Concession end date: 30 Jun 2028 (was due to end on 30 Jun 2026)
- Estimated saving on an AUD 800,000 property: More than AUD 32,300 bought pre-construction; more than AUD 24,200 bought while under construction
- Funding: AUD 70.6 million investment as part of the 2026–27 State Budget
LISTO Boost and Super Tax Changes for Balances Over AUD 3 Million Pass Parliament
The Treasurer announced that the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 passed the Senate without amendment. It boosts the low income superannuation tax offset (LISTO), worth up to AUD 810 a year to workers, and better targets tax concessions for balances over AUD 3 million.
What changed
- LISTO boost to super accounts: up to AUD 810 a year; average increase AUD 410
- Large-balance tax concessions: better targeted for balances over AUD 3 million
- Australians affected by the large-balance change: less than 0.5% in 2026–27
RBA Raises Cash Rate Target by 25 Basis Points to 3.85%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided unanimously at its meeting on 3 Feb 2026 to increase the cash rate target by 25 basis points to 3.85%. The Board said inflation picked up materially in the second half of 2025.
What changed
- Cash rate target: 3.85% (up 25 basis points)
- Board vote: unanimous
Help to Buy Shared Equity Scheme Starts 5 Dec 2025
Housing Australia announced that the Australian Government Help to Buy Scheme commences on 5 Dec 2025: the Government contributes up to 40% of the purchase price for new homes or 30% for existing homes, for eligible buyers with a deposit of as little as 2%.
What changed (effective 5 Dec 2025)
- Government equity contribution: up to 40% of the purchase price for new homes; up to 30% for existing homes
- Minimum deposit: as little as 2%
- Income thresholds: AUD 100,000 for individuals; AUD 160,000 for joint applicants and single parents
- Places: up to 40,000 households over the next four years
- Participating lenders at launch: Bank Australia and the Commonwealth Bank of Australia, with more lenders joining in 2026
- Available at launch in: QLD, VIC, NSW, SA, ACT and NT; the remaining states must pass enabling legislation
APRA Limits High Debt-to-Income Home Loans to 20% of New Lending From 1 Feb 2026
The Australian Prudential Regulation Authority (APRA) announced on 27 Nov 2025 a limit on high debt-to-income (DTI) home lending: from 1 Feb 2026, authorised deposit-taking institutions (ADIs) may lend up to 20% of their new mortgage lending at debt of six times income or more.
What changed (effective 1 Feb 2026)
- High-DTI lending limit: up to 20% of new mortgage lending at debt of six times income or more
- Applies: separately to owner-occupier and investor lending
- Excluded: bridging loans for owner-occupiers and loans to buy or build new dwellings
- Mortgage serviceability buffer: unchanged at 3%
ATO Applying the 20% Student Debt Cut to More Than 3 Million Australians
The Assistant Treasurer, with the Prime Minister and the Education and Skills Ministers, announced that the ATO is applying the 20% student debt cut, backdated to 1 Jun 2025, to more than 3 million Australians by the end of the following week. The one-off reduction happens automatically.
What changed
- Student debt reduction: 20%, backdated to 1 Jun 2025
- Average HELP debt of AUD 27,600: around AUD 5,520 wiped
- Total debt wiped: almost AUD 16 billion
- Repayment threshold: AUD 67,000 (from AUD 54,435)
- Minimum repayments on income of AUD 70,000: AUD 1,300 a year lower
Payday Super Legislation Passes Parliament
The Treasurer and the Assistant Treasurer announced that Payday Super legislation passed Parliament. From 1 Jul 2026, employers must ensure employees’ super contributions are received by their fund within seven business days of payday, or become liable for the superannuation guarantee charge.
What changed (effective 1 Jul 2026)
- Deadline for super to reach the fund: within seven business days of payday
- Missed deadline: employer liable for the superannuation guarantee charge
- Superannuation guarantee charge: redesigned for Payday Super
- ATO compliance, first 12 months: ATO consulting on an approach that differentiates low- and high-risk employers
Revised Tax on Super Balances Over AUD 3 Million and Higher LISTO Announced
The Treasurer announced a revised design for the tax on large super balances, with the start pushed back one year: from 1 Jul 2026 the total concessional tax rate on future realised earnings is 30% for balances between AUD 3 million and AUD 10 million and 40% above AUD 10 million. The low-income superannuation tax offset (LISTO) rises by AUD 310 to AUD 810 from 1 Jul 2027.
What changed
- Earnings on balances AUD 3 million–10 million: 30% total concessional tax rate, from 1 Jul 2026
- Earnings on balances over AUD 10 million: 40% total concessional tax rate, from 1 Jul 2026
- Earnings taxed: future realised earnings only; both thresholds indexed
- Start date: pushed back by one year
- LISTO: AUD 810 (up AUD 310), from 1 Jul 2027
- LISTO eligibility threshold: AUD 45,000 (from AUD 37,000), from 1 Jul 2027
Home Guarantee Scheme Opens to All First Home Buyers with a 5% Deposit from 1 Oct 2025
Housing Australia set out the Australian Government's expansion of the Home Guarantee Scheme from 1 Oct 2025: place limits and income caps are removed, so all first home buyers with a deposit of as little as 5% can apply and avoid Lenders Mortgage Insurance, and property price caps are higher.
What changed (effective 1 Oct 2025)
- Place limits: removed
- Income caps: removed
- Regional First Home Buyer Guarantee: replaced by the First Home Guarantee
- Price cap, NSW capital city and regional centre: AUD 1,500,000 (from AUD 900,000)
- Price cap, VIC capital city and regional centre: AUD 950,000 (from AUD 800,000)
- Price cap, QLD capital city and regional centre: AUD 1,000,000 (from AUD 700,000)
ANZ Lowers Australian Variable Home Loan Rates From 22 Aug 2025
ANZ said variable interest rates across its Australian home loans will decrease by 0.25% p.a., effective 22 Aug 2025, following the Reserve Bank of Australia's decision that day to decrease the official cash rate.
What changed (effective 22 Aug 2025)
- Variable home loan interest rates: down 0.25% p.a., effective 22 Aug 2025
Company announcement — figures are from ANZ Group’s own release, not an official government source.
CBA Cuts Variable Home Loan Rates by 0.25% p.a. From 22 Aug 2025
CBA said it will decrease home loan variable interest rates by 0.25% p.a., effective 22 Aug 2025, following the Reserve Bank of Australia's (RBA) decision to decrease the official cash rate by 0.25% p.a.
What changed (effective 22 Aug 2025)
- Home loan variable interest rates: down 0.25% p.a., effective 22 Aug 2025
- RBA official cash rate (trigger): down 0.25% p.a.
Company announcement — figures are from Commonwealth Bank of Australia’s own release, not an official government source.
NAB Reduces Standard Variable Home Loan Rate From 25 Aug 2025
NAB said on 12 Aug 2025 that it will reduce its standard variable home loan interest rate by 0.25% p.a., effective from 25 Aug 2025, following the Reserve Bank of Australia's cash rate cut announced that day.
What changed (effective 25 Aug 2025)
- Standard variable home loan interest rate: down 0.25% p.a., effective 25 Aug 2025
Company announcement — figures are from National Australia Bank’s own release, not an official government source.
RBA Lowers Cash Rate Target by 25 Basis Points to 3.60%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided unanimously at its meeting on 12 Aug 2025 to lower the cash rate target by 25 basis points to 3.60%, taking the decline in the cash rate since the beginning of 2025 to 75 basis points.
What changed
- Cash rate target: 3.60% (down 25 basis points)
- Decline since the beginning of 2025: 75 basis points
- Board vote: unanimous
Westpac Cuts Home Loan Variable Rates by 0.25% p.a.; Westpac Life Falls to 4.25% With Bonus
Westpac announced on 12 Aug 2025 that it will decrease home loan variable interest rates by 0.25% p.a. for new and existing customers from 26 Aug, after the Reserve Bank of Australia cut the cash rate by 0.25% to 3.60%. The Westpac Life total variable rate with bonus interest falls by 0.25% p.a. to 4.25% p.a. from 22 Aug.
What changed (effective Aug 2025)
- Home loan variable interest rates: down 0.25% p.a. for new and existing customers, effective 26 Aug
- Westpac Life total variable rate with bonus interest: 4.25% p.a. (down 0.25% p.a.), effective 22 Aug
- RBA cash rate (trigger): 3.60% (down 0.25%)
Company announcement — figures are from Westpac Group’s own release, not an official government source.
20% Cut to HELP and Other Student Loan Debts Passes Parliament
The Department of Education announced that legislation passed Parliament to cut HELP and other student loan balances by 20%, effective from 1 Jun 2025 and applied retrospectively by the ATO. The repayment threshold rises from AUD 54,435 to AUD 67,000, and a new marginal repayment system lowers repayment amounts.
What changed (effective 1 Jun 2025)
- Student loan balances: one-off 20% reduction, effective from 1 Jun 2025
- Average HELP debt of AUD 27,600: around AUD 5,520 wiped
- Repayment threshold: AUD 67,000 (from AUD 54,435)
- Repayments: lower amounts under a new marginal repayment system
- Indexation applied on 1 Jun 2025: also adjusted
- Loans covered: HELP, VET Student Loans, Australian Apprenticeship Support Loans and Student Startup Loans
ACT Cuts Owner-Occupier Duty Rate to AUD 0.28 per AUD 100 up to AUD 260,000 from 1 Jul 2025
The ACT Revenue Office set out 2025–26 changes from 1 Jul 2025: the duty rate for eligible owner-occupiers on property values up to AUD 260,000 falls to AUD 0.28 per AUD 100 (from AUD 0.40), and the Home Buyer Concession Scheme no-duty threshold rises to AUD 1,020,000.
What changed (effective 1 Jul 2025)
- Owner-occupier duty rate, values up to AUD 260,000: AUD 0.28 per AUD 100 (from AUD 0.40), for dutiable amounts up to AUD 1,455,000
- Home Buyer Concession Scheme, no duty up to: AUD 1,020,000 (from AUD 1 million)
- Home Buyer Concession Scheme, partial concession cap: AUD 35,238 (from AUD 34,270)
- Pensioner and disability duty concessions, no duty up to: AUD 1,020,000 (from AUD 1 million)
- Off-the-plan and RZ1 unit duty exemptions, no duty up to: AUD 1,020,000 (from AUD 1 million)
- Electricity, Gas and Water Rebate: AUD 800 for 2025–26, with the AUD 50 increase made permanent
QLD Budget to Extend AUD 30,000 First Home Owner Grant to Contracts Signed up to 30 Jun 2026
The Queensland Revenue Office (QRO) outlined 2025–26 Queensland Budget measures: the AUD 30,000 first home owner grant will be extended for eligible contracts signed between 20 Nov 2023 and 30 Jun 2026. QRO said details will be available once legislation has been passed.
What changed
- First home owner grant: AUD 30,000, to be extended for eligible contracts signed between 20 Nov 2023 and 30 Jun 2026
- Status: details to be available once legislation has been passed
Super Guarantee Rises to 12% From 1 Jul 2025
The Treasurer announced the changes taking effect from 1 Jul 2025: employers’ minimum required contribution to employees’ superannuation accounts rises to 12%, super is paid on all Government Paid Parental Leave (PPL), and PPL increases to 24 weeks.
What changed (effective 1 Jul 2025)
- Super guarantee (minimum employer contribution): 12%
- Super on Government PPL: paid on all Government PPL
- Paid Parental Leave length: 24 weeks; individual and family income limits increase
Medicare Levy Surcharge Thresholds Rise for 2025–26; Single Base Tier to AUD 101,000
The ATO published the Medicare levy surcharge (MLS) income thresholds for the 2025–26 income year. The single base tier, with a 0% surcharge, is AUD 101,000 or less (from AUD 97,000 or less) and the family base tier AUD 202,000 or less (from AUD 194,000 or less); the Tier 1 to 3 surcharge rates stay at 1%, 1.25% and 1.5%.
What changed (effective 2025–26)
- Single base tier (0% surcharge): AUD 101,000 or less (from AUD 97,000 or less)
- Single Tier 1 (1% surcharge): AUD 101,001 – AUD 118,000 (from AUD 97,001 – AUD 113,000)
- Single Tier 2 (1.25% surcharge): AUD 118,001 – AUD 158,000 (from AUD 113,001 – AUD 151,000)
- Single Tier 3 (1.5% surcharge): AUD 158,001 or more (from AUD 151,001 or more)
- Family base tier (0% surcharge): AUD 202,000 or less (from AUD 194,000 or less), plus AUD 1,500 for each MLS dependent child after the first
- Family Tiers 1 to 3: AUD 202,001 – AUD 236,000; AUD 236,001 – AUD 316,000; AUD 316,001 or more (from AUD 194,001 – AUD 226,000; AUD 226,001 – AUD 302,000; AUD 302,001 or more)
RBA Lowers Cash Rate Target by 25 Basis Points to 3.85%
The Reserve Bank of Australia (RBA) Monetary Policy Board decided at its meeting on 20 May 2025 to lower the cash rate target by 25 basis points to 3.85%.
What changed
- Cash rate target: 3.85% (down 25 basis points)
Buy Now Pay Later Brought Under Credit Laws from 10 Jun 2025
ASIC published Regulatory Guide 281 on low cost credit contracts ahead of new laws starting on 10 Jun 2025 that extend the National Credit Code to buy now pay later contracts; providers without a credit licence application accepted for lodgement by that date may be engaging in unlicensed conduct.
What changed (effective 10 Jun 2025)
- Buy now pay later contracts: covered by the National Credit Code under laws starting 10 Jun 2025
- Credit licence: providers without an application accepted for lodgement by 10 Jun 2025 may be engaging in unlicensed conduct
- Low cost credit contracts: providers may elect to comply with modified responsible lending obligations
- Guidance: Regulatory Guide 281 Low cost credit contracts (RG 281)
QLD Full Transfer Duty Concession for Eligible First Home Buyers of New Homes from 1 May 2025
The Queensland Revenue Office (QRO) announced that from 1 May 2025, first home buyers of a new home may be eligible for a full transfer (stamp) duty concession, with no value cap on the home and its residential land. The contract must be dated 1 May 2025 or later.
What changed (effective 1 May 2025)
- Transfer duty on a first home that is a new home: full concession for eligible buyers
- Value cap: none for the home and the residential land attributed to it
- Applies to: contracts (or arrangements) dated 1 May 2025 or later
Energy Bill Relief Extended with Another AUD 150 from 1 Jul 2025
The Treasurer, with the Prime Minister and the Minister for Climate Change and Energy, announced another AUD 150 in Energy Bill Relief, extending the rebates until the end of 2025: from 1 Jul 2025 every household and around one million small businesses will have it applied automatically to electricity bills in quarterly instalments.
What changed (effective 1 Jul 2025)
- Household and small business rebate: another AUD 150, on top of the rebates already being rolled out
- Payment: applied automatically to electricity bills in quarterly instalments from 1 Jul 2025
- Energy rebates extended to: the end of 2025
- Cost: AUD 1.8 billion over the forward estimates
Lowest Income Tax Rate to Fall to 15% from 1 Jul 2026 and 14% from 1 Jul 2027
The Treasurer and the Prime Minister announced two further income tax cuts: the 16% rate on income between AUD 18,201 and AUD 45,000 falls to 15% from 1 Jul 2026 and to 14% from 1 Jul 2027. The Medicare levy low-income thresholds will also increase from 2024–25.
What changed (effective 1 Jul 2026)
- Tax rate on income AUD 18,201–45,000: 15% from 1 Jul 2026 (from 16%)
- Same rate from 1 Jul 2027: 14%
- Extra cut for taxpayers above AUD 45,000: AUD 268 in 2026–27 and AUD 536 from 2027–28, vs 2024–25 settings
- Extra cut on income of AUD 40,000: AUD 218 in 2026–27 and AUD 436 a year from 2027–28
- Medicare levy low-income thresholds: increased from 2024–25
WA Raises First Home Buyer Stamp Duty Exemption to AUD 500,000; Off-the-Plan Concession Expanded
The WA Government announced higher first home buyer stamp duty exemption and concession thresholds for eligible transactions from 21 Mar 2025, with no stamp duty on a house valued up to AUD 500,000, subject to legislation to be introduced into Parliament. Off-the-plan concession thresholds for dwellings bought before construction commences are lifted by AUD 100,000, for purchases from 21 Mar 2025 until 30 Jun 2026.
What changed (effective 21 Mar 2025)
- First home buyer exemption threshold, houses: No stamp duty up to AUD 500,000 (from AUD 450,000)
- First home buyer concession threshold, houses: AUD 700,000 in Perth and Peel; AUD 750,000 outside those regions (both from AUD 600,000)
- First home buyer vacant land: Exemption up to AUD 350,000 (from AUD 300,000); concession up to AUD 450,000 (from AUD 400,000)
- Off-the-plan, bought before construction commences: No stamp duty up to AUD 750,000, tapering to a 50% concession above AUD 850,000 (thresholds lifted by AUD 100,000)
- Off-the-plan, bought while under construction: 75% concession up to AUD 750,000, tapering to a 37.5% concession above AUD 850,000
- Off-the-plan concession period and scope: Purchases from 21 Mar 2025 until 30 Jun 2026; townhouses on strata plans included for the first time
RBA Lowers Cash Rate Target to 4.10%
The Reserve Bank of Australia (RBA) Board decided at its meeting on 18 Feb 2025 to lower the cash rate target to 4.10% and the interest rate paid on Exchange Settlement balances to 4%.
What changed
- Cash rate target: lowered to 4.10%
- Interest rate on Exchange Settlement balances: lowered to 4%
Foreign Investors Banned from Buying Established Homes from 1 Apr 2025 to 31 Mar 2027
The Treasurer and the Minister for Housing announced that foreign investors, including temporary residents and foreign-owned companies, cannot buy established dwellings in Australia from 1 Apr 2025 until 31 Mar 2027 unless an exception applies. A review will decide whether the ban is extended.
What changed (effective 1 Apr 2025)
- Foreign purchases of established dwellings: banned from 1 Apr 2025 until 31 Mar 2027
- Applies to: foreign investors, including temporary residents and foreign-owned companies
- Exceptions: investments that significantly increase or support housing supply, and the Pacific Australia Labour Mobility (PALM) scheme
- Review: to determine whether the ban is extended beyond 31 Mar 2027
- Enforcement: AUD 5.7 million over 4 years from 2025–26 for the ATO's foreign investment compliance team
Scams Prevention Framework Passes Parliament with Fines up to AUD 50 Million
The Assistant Treasurer and the Minister for Communications announced that Parliament passed laws establishing the Scams Prevention Framework, which requires designated businesses to prevent, detect, disrupt, respond to and report scams, with fines of up to AUD 50 million for businesses that fail to meet their obligations.
What changed
- Sectors to be designated first: banks, telcos and social media companies
- Obligations: prevent, detect, disrupt, respond to and report scams, under enforceable sector-specific rules
- Maximum fine for failing obligations: up to AUD 50 million
- Scam victims: pathways to compensation if a business fails to meet the standards
CBA Pauses Complete Access Account Migration for Customers Using Assisted Withdrawals
CBA paused the move of Complete Access customers who made an assisted withdrawal over the last six months to its Smart Access account. CBA said it is closing the legacy Complete Access account in early 2025 and moving about 1m customers to Smart Access, which has an AUD 4 monthly account fee (Complete Access: AUD 6) and an AUD 3 assisted withdrawal fee.
What changed
- Smart Access monthly account fee: AUD 4 (Complete Access: AUD 6)
- Smart Access assisted withdrawal fee: AUD 3 (Complete Access: no fee); some customers exempt, including under 18s
- Migration: paused for customers who made an assisted withdrawal over the last six months
- Concession holders (~200,000): remain exempt from the change
Company announcement — figures are from Commonwealth Bank of Australia’s own release, not an official government source.
No Debit Card Surcharges on ATO and Services Australia Payments from 1 Jan 2025
The Treasurer, with the Minister for Finance and the Assistant Minister for Competition, Charities and Treasury, announced that the ATO and Services Australia will stop passing on debit card surcharges from 1 Jan 2025, with the Commonwealth Entities (Payment Surcharges) Bill 2024 to be introduced to authorise existing surcharges.
What changed (effective 1 Jan 2025)
- Debit surcharges on ATO and Services Australia payments: no longer passed on from 1 Jan 2025
- Commonwealth Entities (Payment Surcharges) Bill 2024: authorises existing surcharges retrospectively from 1 Jan 2003; imposes no new surcharges
- All debit card surcharges (previously announced): Government prepared to ban them permanently from 2026, subject to the RBA's Surcharging Review
NT Offers Up to AUD 50,000 HomeGrown Territory Grant for First-Home Buyers Who Build
The Northern Territory Government is offering home owner grants from 1 Oct 2024: first-home buyers who build can get up to AUD 50,000 with the HomeGrown Territory grant, first-home buyers of an established home AUD 10,000 with the First Home Owner grant, and existing home owners up to AUD 30,000 with the Fresh Start New Home grant.
What changed (effective 1 Oct 2024)
- HomeGrown Territory grant, first-home buyers building: up to AUD 50,000
- First Home Owner grant, established home: AUD 10,000
- Fresh Start New Home grant, existing home owners: up to AUD 30,000 to buy or build a new home
- Who can apply: Territorians and anyone looking to call the Territory home
- Applications open: 1 Oct 2024
Rent Assistance Up a Further 10% as Pensions and Payments Are Indexed
The Treasurer and the Minister for Social Services announced changes rolling out from 20 Sep 2024: Commonwealth Rent Assistance rises by a further 10% plus indexation, alongside indexation of the Age Pension, Disability Support Pension, JobSeeker, Carer Payment and Parenting Payment, and higher Commonwealth Seniors Health Card income limits.
What changed (effective 20 Sep 2024)
- Commonwealth Rent Assistance: up a further 10% plus indexation
- Payments indexed: Age Pension, Disability Support Pension, JobSeeker, Carer Payment and Parenting Payment
- JobSeeker, assessed partial capacity under 15 hours a week: move to the higher JobSeeker rate, an increase of AUD 71.20 a fortnight combined with indexation
- Commonwealth Seniors Health Card income limits: AUD 99,025 for singles, AUD 158,440 for couples (combined)
Payday Super Design Details Released: Super Due With Wages from 1 Jul 2026
The Treasurer and the Assistant Treasurer released design details for Payday Super. From 1 Jul 2026 employers will be required to pay employees’ super at the same time as salary and wages, and become liable for an updated superannuation guarantee charge if contributions are not received by the fund within seven days of payday.
What changed (effective 1 Jul 2026)
- When super is paid: with salary and wages, from 1 Jul 2026
- Deadline for the fund to receive it: within seven days of payday
- Late or missed payments: updated superannuation guarantee charge compensates employees for delays
- Choice of fund: easier to nominate an existing fund when starting a new job
Foreign Resident Capital Gains Withholding Rate to Rise to 15%; Threshold to Fall to AUD 0
The Treasurer released draft legislation to increase the foreign resident capital gains withholding rate from 12.5% to 15% and cut the transaction threshold before withholding applies from AUD 750,000 to AUD 0. The changes, announced in the 2023–24 Mid-Year Economic and Fiscal Outlook (MYEFO), are to apply from 1 Jan 2025 under the draft legislation, which is open for consultation until 5 Aug 2024.
What changed (effective 1 Jan 2025)
- Foreign resident capital gains withholding rate: 15% (from 12.5%)
- Transaction threshold before withholding applies: AUD 0 (from AUD 750,000)
QLD Raises First Home Duty Concession Threshold to AUD 700,000; Foreign Acquirer Duty to 8%
The Queensland Revenue Office (QRO) confirmed 2024–25 State Budget changes now in law: higher transfer duty first home and first home vacant land concession thresholds for contracts dated on or after 9 Jun 2024, and additional foreign acquirer duty (AFAD) rising from 7% to 8% from 1 Jul 2024.
What changed
- First home concession threshold: AUD 700,000 (from AUD 500,000)
- First home concession phases out at: AUD 800,000 (from AUD 550,000)
- First home vacant land concession threshold: AUD 350,000 (from AUD 250,000)
- First home vacant land concession phases out at: AUD 500,000 (from AUD 400,000)
- Applies to: contracts dated on or after 9 Jun 2024
- Additional foreign acquirer duty (AFAD): 8% from 1 Jul 2024 (from 7%)
ACT Cuts Owner-Occupier Duty Rate on Values up to AUD 260,000; Revises Home Buyer Concession
The ACT Revenue Office set out changes for 2024–25: the conveyance (stamp) duty rate for residential owner-occupiers on property values up to AUD 260,000 falls to AUD 0.40 per AUD 100 (from AUD 0.49), and the Home Buyer Concession Scheme income test moves to taxable income with higher thresholds.
What changed
- Owner-occupier duty rate, values up to AUD 260,000: AUD 0.40 per AUD 100 (from AUD 0.49)
- Home Buyer Concession Scheme income test: based on taxable income (generally), with increased thresholds
- Home Buyer Concession Scheme, other property holdings: prohibition period extended to 5 years
- Pensioner and disability duty concessions: nil duty on eligible properties up to AUD 1 million; capped benefits above AUD 1 million
- Off-the-plan and RZ1 unit duty concessions: property value threshold increased to AUD 1 million, 1 Jul 2024 to 30 Jun 2025
- Electricity, Gas and Water Rebate: AUD 800 in 2024–25 (up AUD 50)
NSW Budget to Raise Surcharge Purchaser Duty to 9% and Foreign Surcharge Land Tax to 5%
Revenue NSW outlined measures announced in the 2024-2025 State Budget, subject to the Revenue Legislation Amendment Act 2024 being passed: surcharge purchaser duty will increase from 8% to 9% for surcharge duty transactions on or after 1 Jan 2025, and surcharge land tax on residential land owned by a foreign person will increase from 4% to 5%, starting with land owned at midnight on 31 Dec 2024.
What changed (effective 1 Jan 2025)
- Surcharge purchaser duty: 9% (from 8%), for surcharge duty transactions on or after 1 Jan 2025
- Surcharge land tax on foreign-owned residential land: 5% (from 4%), for land owned at midnight on 31 Dec each year, starting with 2024
- Land tax threshold: unchanged at AUD 1,075,000 for the 2025 and later land tax years
- Land tax premium rate threshold: unchanged at AUD 6,571,000 for the 2025 and later land tax years
- Legislation: Revenue Legislation Amendment Act 2024, to implement the measures once passed
SA Removes Value Caps on First Home Buyer Stamp Duty Relief for New Homes and Vacant Land
RevenueSA said the 2024–25 State Budget announced the removal of the property value caps on stamp duty relief for eligible first home buyers who buy a new home or vacant land to build a new home on, so full relief applies for contracts entered into on or after 6 Jun 2024. The First Home Owner Grant (FHOG) value cap is also removed from that date.
What changed (effective 6 Jun 2024)
- Stamp duty relief, new homes and vacant land: Full relief with no property value cap for contracts entered into on or after 6 Jun 2024
- FHOG value cap: Removed from 6 Jun 2024 (was AUD 650,000 from 15 Jun 2023 to 5 Jun 2024)
- Previous home ownership: Buyers (or their spouse/domestic partner) who own or have owned residential property in Australia lose duty relief and FHOG eligibility, from the date of assent
- Foreign ownership surcharge: First home buyer relief from the surcharge removed for contracts from the date of assent; at least one owner must be an Australian citizen or Permanent Resident
- Legislation: Statutes Amendment (Budget Measures) Bill 2024, introduced into Parliament on 6 Jun 2024
HELP Debts Indexed by 4.7% on 1 Jun 2024, 4.0% If the Proposed Cap Is Legislated
The Department of Education said the ATO will index HELP debts by 4.7% on 1 Jun 2024, based on the Consumer Price Index (CPI). If the Budget change to index at the lower of CPI or the Wage Price Index (WPI) is legislated, debts will be adjusted to the 4.0% WPI rate for 2024.
What changed (effective 1 Jun 2024)
- Indexation applied on 1 Jun 2024: 4.7% (CPI)
- Rate if the proposed cap is legislated: 4.0% (WPI)
AUD 300 Energy Bill Rebate for Every Household from 1 Jul 2024
The Treasurer, with the Minister and Assistant Minister for Climate Change and Energy, announced in the 2024–25 Budget that from 1 Jul 2024 every household will have a credit of AUD 300 applied automatically to its electricity bills, and around one million small businesses will receive AUD 325 off their bills over 2024–25, in quarterly instalments.
What changed (effective 1 Jul 2024)
- Household electricity bill credit: AUD 300, applied automatically from 1 Jul 2024
- Small business bill relief: AUD 325 over 2024–25 for around one million small businesses
- Payment timing: credits applied in quarterly instalments
- Funding: AUD 3.5 billion, extending and expanding the 2023–24 energy bill relief
WA Lifts First Home Buyer Duty Exemption to AUD 450,000 and Concession Threshold to AUD 600,000
The WA Government announced in the 2024–25 State Budget that first home buyers will pay no transfer duty on homes valued up to AUD 450,000 (from AUD 430,000) and the concession threshold for established homes will rise to AUD 600,000 (from AUD 530,000), for agreements entered into from 9 May 2024, subject to legislation to be introduced into Parliament.
What changed (effective 9 May 2024)
- Exemption threshold (no transfer duty): AUD 450,000 (from AUD 430,000)
- Concession threshold, established homes: AUD 600,000 (from AUD 530,000)
- Duty on an AUD 450,000 home: AUD 0 (from AUD 3,838)
- Duty on an AUD 530,000 home: AUD 12,008 (from AUD 19,190)
- Legislation: To be introduced into Parliament, with a pre-enactment determination applying it from when system changes are implemented
- Refunds: Eligible buyers who pay duty under the previous thresholds at settlement can apply for a refund once system changes are implemented
HELP Indexation to Be Capped at the Lower of CPI or WPI, Backdated to 1 Jun 2023
The Australian Government announced that HELP and other student loan indexation will be capped at the lower of the Consumer Price Index (CPI) or the Wage Price Index (WPI), effective from 1 Jun 2023, subject to legislation. It also fixes the previous year's 7.1% CPI indexation spike and wipes around AUD 3 billion in student debt for more than 3 million Australians.
What changed (effective 1 Jun 2023)
- HELP indexation rate: lower of CPI or WPI (from CPI)
- Estimated credit, AUD 25,000 debt at 30 Jun 2023: AUD 1,120 for 2023 and 2024
- Estimated credit, AUD 50,000 debt at 30 Jun 2023: AUD 2,245 for 2023 and 2024
- Student debt wiped: around AUD 3 billion
- Loans covered: HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loans
Super to Be Paid on Government Paid Parental Leave from 1 Jul 2025
The Treasurer, with the Ministers for Finance and Social Services, announced that superannuation will be paid on Government Paid Parental Leave (PPL) from 1 Jul 2025. A separate bill before the Senate would extend PPL to 22 weeks, rising to 24 weeks from Jul 2025 and 26 weeks from Jul 2026.
What changed (effective 1 Jul 2025)
- Super on Government PPL: paid on the Government payment from 1 Jul 2025
- PPL length (bill before the Senate): 22 weeks, rising to 24 weeks from Jul 2025 and 26 weeks from Jul 2026
Income Tax Cuts for Every Taxpayer Pass the Senate, Start 1 Jul 2024
The Treasurer, with the Prime Minister and the Minister for Finance, announced that the Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024 passed the Senate. From 1 Jul 2024 the 19% rate falls to 16%, the 32.5% rate falls to 30%, and the thresholds for the 37% and 45% rates rise. A bill raising the Medicare levy low-income thresholds for 2023–24 also passed.
What changed (effective 1 Jul 2024)
- Tax rate on income AUD 18,200–45,000: 16% (from 19%)
- Tax rate on income AUD 45,000–135,000: 30% (from 32.5%)
- 37% rate applies above: AUD 135,000 (from AUD 120,000)
- 45% rate applies above: AUD 190,000 (from AUD 180,000)
- Medicare levy low-income thresholds: increased for 2023–24
Pension Loans Scheme Becomes Home Equity Access Scheme, Rate Cut to 3.95% From 1 Jan 2022
The Minister for Families and Social Services, Anne Ruston, announced that the Pension Loans Scheme is being rebranded as the Home Equity Access Scheme (HEAS) and that its compound interest rate will be cut from 4.50% to 3.95% p.a. from 1 Jan 2022. The HEAS is a voluntary non-taxable fortnightly loan for people who have reached Age Pension age and own real estate in Australia.
What changed (effective 1 Jan 2022)
- Interest rate: 3.95% p.a., compound (from 4.50% p.a.)
- Scheme name: Home Equity Access Scheme (previously the Pension Loans Scheme)
- Maximum loan: Fortnightly loan up to a maximum value of 150% of the rate of the Age Pension
- Eligibility: Age Pension age, real estate owned in Australia, residency and certain other requirements; a pension payment is not required
Pension Loans Scheme to Add Lump-Sum Advances From 1 Jul 2022 and a No Negative Equity Guarantee
The Minister for Families and Social Services and Women’s Safety, Anne Ruston, announced in the 2021–22 Budget that from 1 Jul 2022 retirees will be able to access capped advance payments under the Pension Loans Scheme (PLS) of up to 50% of the maximum rate of Age Pension each year, and that the PLS will have a No Negative Equity Guarantee.
What changed (effective 1 Jul 2022)
- Lump-sum advances: Up to 50% of the maximum rate of Age Pension each year (AUD 12,385 for a single PLS loan recipient at announcement)
- No Negative Equity Guarantee: A person will never owe more than the value of their secured property
- Who can use the advances: Pensioners and self-funded retirees under the PLS
No updates match these filters
Adjust the topic or year, or turn off “Major changes only”.
Important Disclaimer
For educational and informational purposes only. This page summarises announcements made by Australian government agencies and regulators and by companies operating in Australia, for general information. Each summary is simplified and may leave out conditions, exceptions, transitional rules and eligibility criteria set out in the original announcement. Every item links to the announcement it summarises; refer to that announcement and to the relevant authority for the full rules before relying on any figure.
Figures and rules are subject to change. Rates, fees, limits, grants, reliefs and eligibility rules are revised by the agencies and companies that set them. Each item describes the position as announced on its date, and a later announcement may change or reverse it. While Money Snap takes reasonable care in preparing these summaries, this page is provided "as is" without any express or implied warranty as to accuracy, completeness or timeliness.
Company announcements are not official sources. Items attributed to a company — banks and other lenders — summarise that company's own release. Their figures are the company's own and are not an official government source. For a bank, insurance or investment product, the provider's product terms, Product Disclosure Statement (PDS) or Target Market Determination (TMD) set out the full conditions. Items are selected and summarised by Money Snap and are not paid for or sponsored by the companies concerned; nothing on this page is an offer, an endorsement or a recommendation of any company, product or account.
Not financial advice. Information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. It does not constitute financial, tax, legal or investment advice, and reading it does not create an advisory relationship. For advice on your own circumstances, refer to a licensed financial adviser (AFSL holder) or a registered tax agent in Australia.
Limitation of liability. To the maximum extent permitted by law, Money Snap accepts no liability for any loss, damage, cost or expense — direct or indirect — arising from reliance on this page or the information it contains. Use of this page is subject to our Terms of Use.