Tuesday, 18 February 2025

Help to Buy (Commonwealth Powers) Bill 2025

Introduction and first reading

Danny PEARSON (Essendon – Minister for Economic Growth and Jobs, Minister for Finance) (12:07): I move:

That I introduce a bill for an act to adopt specified provisions of the Help to Buy Act 2024 of the Commonwealth, to refer legislative power of the state in the form of an amendment reference to the Parliament of the Commonwealth to make amendments to the Help to Buy Act 2024 of the Commonwealth, to make consequential amendments to other acts and for other purposes.

Motion agreed to.

Jess WILSON (Kew) (12:07): I seek an explanation of the bill.

Danny PEARSON (Essendon – Minister for Economic Growth and Jobs, Minister for Finance) (12:07): The Help to Buy (Commonwealth Powers) Bill 2025 adopts the Commonwealth Help to Buy Act 2024 to enable the Commonwealth to establish and operate its shared equity scheme, Help to Buy, in Victoria. The bill also makes amendments to the Duties Act 2000, the First Home Owner Grant and Home Buyer Schemes Act 2000 and the Land Tax Act 2005 to clarify the interaction between HTB and certain Victorian entitlements, concessions and schemes available to homebuyers.

Read first time.

Ordered to be read second time tomorrow.