Consultation starts on Rudd Government's First Home Saver Accounts
Source: Australia. Minister for Housing and the Treasurer. Media Release
"The Rudd Government is releasing the First Home Saver Accounts (FHSA) discussion paper outlining the proposed features of the accounts and how they would operate. This follows Cabinet's formal approval of the establishment of the FHSA. The Government is seeking input from the community and industry on the exact detail of the proposal. We want the accounts to achieve our objective of providing a simple and tax effective way for Australians to save a larger deposit for their first home."In recognition of the financial pressures faced by young people and Australian families in purchasing their first home, we announced in the 2007 federal election campaign that we would pursue this policy if elected," Treasurer Wayne Swan said."