Unlocking Supply of Family Homes Bill 2025

Summary

Amends the Income Tax Assessment Act 1997 to: lower the minimum age of eligibility for a downsizer contribution from 55 years to 50 years; extend the period of time in which a contribution can be made from 90 days to 1 year after the change of ownership occurs; and increase the maximum amount of contribution from $300,000 to $500,000.