Creative Australia – redirect towards Melbourne Jewish Arts Quarter and supporting broadcasting

Summary of proposal

The proposal would reduce funding to Creative Australia by $61.8 million and redirect this funding as follows:

  • Component 1: provide $18 million (evenly distributed over 4 years) towards a Jewish Arts Quarter project in Victoria.
  • Component 2: return $43.8 million over 4 years to the consolidated revenue fund, with the funding profile of: $33.2 million in 2025-26, $2 million in 2026-27, $1.1 million in 2027-28 and $7.5 million in 2028-29.

The proposal would be non-ongoing and commence on 1 July 2025.

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Reinstate the 80:20 federal funding model for nationally significant road projects in regional and remote Australia

Summary of proposal

The proposal would restore the 80:20 federal funding model for all new nationally significant road projects in regional and remote areas ensuring more regional roads and highways are upgraded. The current cost-sharing arrangement is on a 50:50 basis.

The proposal would be ongoing and start on 1 July 2025.

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Reinstate the 80:20 federal funding model for nationally significant road projects in regional and remote Australia

Summary of proposal

The proposal would restore the 80:20 federal funding model for all new nationally significant road projects in regional and remote areas ensuring more regional roads and highways are upgraded. The current cost-sharing arrangement is on a 50:50 basis.

The proposal would be ongoing and start on 1 July 2025.

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First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

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First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

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First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

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First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

Read more

First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

Read more

First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

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Better transport and telecommunications infrastructure

Summary of proposal

The proposal would provide $1.3 billion in grants over 4 years for better transport and telecommunications infrastructure. A list of proposed projects is at Attachment B.

The funding profile would be $72.1 million in 2025-26, $360.5 million in 2026-27, $518.1 million in 2027-28 and $333.9 million in 2028-29.

The proposal would be non-ongoing and start on 1 July 2025.

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