Govt looking at super housing deposit: MP

A Liberal backbencher insists the Turnbull government is looking to allow first-time home buyers to dip into their superannuation to help with a deposit, despite previous denials by ministers.

John Alexander also said the government was working on changes to negative gearing, which may be presented at the next election.

“But I think the time is of the essence and I think we need to act sooner rather than later,” he told Sky News on Thursday.

“We are discussing these policies, we haven’t discussed the timing of them.”

Mr Alexander chaired a parliamentary committee into housing affordability.

The government has made tackling housing affordability the centrepiece of this year’s budget, however it has opposed Labor’s plan to limit negative gearing to new properties.

Shadow treasurer Chris Bowen said the government’s latest “thought bubble” on accessing super for housing is “dangerous”.

He said it would undermine retirement incomes and would encourage first home buyers to use their own super to bid against investors, who would continue to have access to the most generous property tax concessions in the world.

“That isn’t a plan, it’s a sham and would just increase house prices,” Mr Bowen said in a statement.

Originally published as Govt looking at super housing deposit: MP

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