Australian Budget 2021

Presented by the treasurer on 11th May 2021

For the financial year 2021-2022, a further 10,000 spots is to be made available specifically for first home buyers seeking to build a new home or purchase a newly built home.

From 1st July 2021, 10,000 guarantees will be made available over four years to eligible single parents with dependents to build a new home or purchase an existing home with a deposit of as little as 2% subject to individual’s ability to service the loan.

From 1st July 2022 the maximum amount of voluntary contributions that can be release under First home super saver scheme will increase from $30k to $50k.

There were other announcements like tax cuts for low and middle income earners, support for businesses to create jobs, supporting older Australians, funding for aged care reforms, making childcare more affordable, infrastructure commitments and support for animal population.