Impact of super for housing on Commonwealth Rent Assistance

Summary of proposal

The request sought the savings in Commonwealth Rent Assistance, resulting from purchasing a home under the Coalitions’ proposed super for housing policy. The super for housing policy was described in the Coalitions’ 2022 election policy and would allow individuals to withdraw up to $50,000 from their superannuation (up to a maximum 40% of their superannuation balance) to purchase their first home.

The analysis would focus on 38-year-olds and would assume that 20% of renters would purchase a home due to the scheme.

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Impact of super for housing on Commonwealth Rent Assistance

Summary of proposal

The request sought the savings in Commonwealth Rent Assistance, resulting from purchasing a home under the Coalitions’ proposed super for housing policy. The super for housing policy was described in the Coalitions’ 2022 election policy and would allow individuals to withdraw up to $50,000 from their superannuation (up to a maximum 40% of their superannuation balance) to purchase their first home.

The analysis would focus on 38-year-olds and would assume that 20% of renters would purchase a home due to the scheme.

Read more