❓ Mr. Buswell questions the Treasurer about stamp duty effectively negating the first home buyer grant for houses over $300,000, particularly in specific suburbs. Mr. Ripper refutes the claim that the grant is Commonwealth-funded and defends the government's overall approach to housing affordability.
AnsweredQoN 497Legislative Assembly
QuestionView source ↗
FIRST HOME BUYER GRANT - STAMP DUTY
I refer to the government’s sleight of hand by which the commonwealth government’s $7 000 first home buyer grant is effectively taken by the Treasurer in the form of stamp duty taken from first home purchasers who buy a house valued at just over $300 000. How does the Treasurer justify this tax grab to the thousands of first home buyers he is denying assistance to, especially those in suburbs where his friends at the Real Estate Industry Association of Western Australia have identified the median house price to have moved above $300 000 - suburbs such as Ballajura, Bassendean, Ellenbrook, Kingsley, Rockingham, Victoria Park, Willagee and Belmont? Mr E.S. RIPPER
I refer to the government’s sleight of hand by which the commonwealth government’s $7 000 first home buyer grant is effectively taken by the Treasurer in the form of stamp duty taken from first home purchasers who buy a house valued at just over $300 000. How does the Treasurer justify this tax grab to the thousands of first home buyers he is denying assistance to, especially those in suburbs where his friends at the Real Estate Industry Association of Western Australia have identified the median house price to have moved above $300 000 - suburbs such as Ballajura, Bassendean, Ellenbrook, Kingsley, Rockingham, Victoria Park, Willagee and Belmont? Mr E.S. RIPPER
AnswerView source ↗
The member for Vasse has made an error of fact in asking his question. The first home owner grant is not a commonwealth grant. It is a state grant and it is funded entirely from state revenue, and it is wrong to call it a commonwealth grant. It is part of the state government’s assistance for first home buyers, along with the stamp duty exemptions for first home buyers that this government introduced just over two years ago. Western Australia did not have those stamp duty exemptions under the Liberal government; it has them under this government. I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr E.S. RIPPER replied: The member for Vasse has made an error of fact in asking his question. The first home owner grant is not a commonwealth grant. It is a state grant and it is funded entirely from state revenue, and it is wrong to call it a commonwealth grant. It is part of the state government’s assistance for first home buyers, along with the stamp duty exemptions for first home buyers that this government introduced just over two years ago. Western Australia did not have those stamp duty exemptions under the Liberal government; it has them under this government. I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
The member for Vasse has made an error of fact in asking his question. The first home owner grant is not a commonwealth grant. It is a state grant and it is funded entirely from state revenue, and it is wrong to call it a commonwealth grant. It is part of the state government’s assistance for first home buyers, along with the stamp duty exemptions for first home buyers that this government introduced just over two years ago. Western Australia did not have those stamp duty exemptions under the Liberal government; it has them under this government. I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr E.S. RIPPER replied: The member for Vasse has made an error of fact in asking his question. The first home owner grant is not a commonwealth grant. It is a state grant and it is funded entirely from state revenue, and it is wrong to call it a commonwealth grant. It is part of the state government’s assistance for first home buyers, along with the stamp duty exemptions for first home buyers that this government introduced just over two years ago. Western Australia did not have those stamp duty exemptions under the Liberal government; it has them under this government. I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
The member for Vasse has made an error of fact in asking his question. The first home owner grant is not a commonwealth grant. It is a state grant and it is funded entirely from state revenue, and it is wrong to call it a commonwealth grant. It is part of the state government’s assistance for first home buyers, along with the stamp duty exemptions for first home buyers that this government introduced just over two years ago. Western Australia did not have those stamp duty exemptions under the Liberal government; it has them under this government. I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
I understand that some first home buyers find it difficult to get the house they want at the price they want and in the location they want. Nevertheless, the number of applicants for the first home owner grant and of first home buyers receiving stamp duty exemptions remains high, indicating that there are plenty of first home buyers in the market. In fact, in the 12 months - Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr T. Buswell interjected. The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
The SPEAKER : I know the member for Vasse likes to yell at people and be heard, but this is not the appropriate time to do that. I call the member to order for the third time. Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
Mr E.S. RIPPER : In the 12 months to March or April 2006, Australian Bureau of Statistics figures show that there was an almost 15 per cent increase in first home owner participation in the Western Australian housing market. It is important for people to think about the state of the housing market. We have raging demand for housing out there and we have a shortage of supply. If the government does anything to artificially add to demand, housing prices will only increase. There will be a benefit - a benefit for house sellers and a benefit to the real estate industry, but there will not be any benefit for first home buyers. The member for Vasse cannot suggest that the choice is whether or not to assist first home buyers. The option that he is putting on the table would assist house sellers and the real estate industry, but would do nothing for first home buyers. It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
It is all about timing. I support tax cuts, provided the government has the sustainable capacity to deliver them. I have cut taxes four times over the past two years, and I would like to do more if we have the capacity. However, we have to make an assessment of the sustainability of our economy and we have to think about wages, services and infrastructure. It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
It would be worthwhile for the Deputy Leader of the Opposition and the Leader of the Opposition to note that a dollar spent on wages is a dollar that is not available for tax relief, service improvements and infrastructure. However, if we have the capacity, we will be interested in further tax cuts - just as we have been four times over the past two years.
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