Peter Dutton unveils enormous change to assist first homebuyers get a foot within the door

Peter Dutton is set to announce a game changing housing policy plan to help first homebuyers get on the property ladder.

The new policy would allow first time buyers of newly built homes to deduct mortgage payments from their income tax if the Coalition wins the federal election.

According to the Coalition’s figures, the policy would mean a family on average incomes would be about $11,000 a year better off, or $55,000 over five years.

The ‘first home buyers mortgage deduction scheme’ would be limited to five years and the first $650,000 of a mortgage, the ABC reported.

It would be means-tested at $175,000 for singles and $250,000 for couples.

More to come… 

Peter Dutton (pictured) is set to announce a game changing housing policy plan to help first homebuyers get on the property ladder