Sponsor speech Supports
Wendy Askew
Senator Wendy Askew moved the second reading and incorporated a speech supporting the bill.
Read in Hansard ↗Unlocking Supply of Family Homes
Current status
This bill is currently before Parliament.
Policy area
Budget, tax & economy
What does this bill do?
The bill would amend the Income Tax Assessment Act 1997The Commonwealth tax law the bill would amend. The downsizer contribution rules sit in this Act. rules for downsizer superannuation contributions, so more people selling a long-held family home could put sale proceeds into superannuation.
Why was it introduced?
The bill was introduced to expand the existing downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement. rules as a housing-supply and retirement-income measure. The explanatory memorandumThe official document circulated with a bill to explain what it is intended to do and how its clauses work. says the proposal is intended to make it easier for older Australians to move from larger family homes into more suitable housing without giving up the chance to put sale proceeds into superannuation. The sponsor's materials present that as a way to free up larger homes for younger families, while still keeping the choice to downsize voluntary.
Broader context
The bill sits in the housing-affordability debate about whether Australia can make better use of existing homes, not just build new ones. Downsizer contributions already let eligible older Australians put home-sale proceeds into superannuation without using ordinary contribution capsAnnual limits on some superannuation contributions. The sponsor's speech says downsizer contributions can be made without using the ordinary annual contribution caps.. This private senator's billA bill introduced by a senator who is not introducing it as a government minister. It can start debate but does not become law unless both houses pass it and it receives Royal Assent. would widen that existing tax-and-super pathway by lowering the age threshold, increasing the contribution cap and giving sellers more time after settlementThe point when a home sale is completed. The bill would give eligible sellers 12 months after settlement, rather than 90 days, to make a downsizer contribution..
Key criticism
The collected material does not include later parliamentary debate from other parties, divisions, proposed amendments, committee scrutiny or a direct public critique of this specific bill. The main limitation in the record is evidentiary: the available sources show the sponsor's case for expanding downsizer contributions, but not whether the Senate accepted that case or how other parties responded.
Who supported it?
Senator Jane Hume introduced this bill. Supportive speeches so far have come from Liberal Party.
Introduced in Senate 26 Nov 2025
At second reading in Senate 26 Nov 2025
Not yet reached House —
Not yet law —
Did it become law?
Not yet
Final passage
No final vote yet
The bill has not yet completed passage through Parliament.
Days since introduction
196 days
Updated 10 June 2026.
Meaning
What does this bill do?
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The bill would amend the Income Tax Assessment Act 1997The Commonwealth tax law the bill would amend. The downsizer contribution rules sit in this Act. rules for downsizer superannuation contributions, so more people selling a long-held family home could put sale proceeds into superannuation.
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It would lower the minimum age for making a downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement. from 55 to 50.
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It would extend the time allowed to make the contribution after settlementThe point when a home sale is completed. The bill would give eligible sellers 12 months after settlement, rather than 90 days, to make a downsizer contribution. from 90 days to 12 months.
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It would increase the maximum downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement. from $300,000 to $500,000, while the contribution still could not be greater than the sale proceeds of the home.
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Other eligibility rules would remain, including that the home must be in Australia, must generally qualify for the main residence capital gains tax exemption, must have been held for at least 10 years, and cannot have already been used for a downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement..
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If enacted, the bill would start the day after Royal AssentThe final formal approval needed after a bill passes both houses of Parliament before it can become an Act. This bill would start the day after Royal Assent if enacted. and would apply to contributions made on or after commencement. The collected APH material records the bill as before the Senate, so this page does not treat the proposal as law.
Show source excerpts
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This Bill gives more Australians greater flexibility when contributing the proceeds of the sale of their family home into their superannuation, increasing financial security in retirement for older Australians while also helping unlock housing stock for younger families.
Unlocking Supply of Family Homes explanatory memorandum -
Paragraph 292-102(1)(a) Omit "55 years", substitute "50 years".
Unlocking Supply of Family Homes introduced bill text -
Paragraph 292-102(1)(g) Omit "90 days", substitute "12 months".
Unlocking Supply of Family Homes introduced bill text -
the maximum amount of the contribution is increased from $300,000 to $500,000 ... the amount of the contribution cannot be greater than the sum of the proceeds of sale of the home;
Unlocking Supply of Family Homes explanatory memorandum -
the contribution is exempt from capital gains tax under the main residence exemption ... the home is located in Australia ... the person has not made a previous downsizer contribution under section 292-102; and has held the property for at least 10 years.
Unlocking Supply of Family Homes explanatory memorandum -
The whole of this Act The day after this Act receives the Royal Assent ... The amendments made by this Schedule apply in relation to contributions made on or after the commencement of this item.
Unlocking Supply of Family Homes introduced bill text
Context
Broader context for this bill
The bill sits in the housing-affordability debate about whether Australia can make better use of existing homes, not just build new ones. Downsizer contributions already let eligible older Australians put home-sale proceeds into superannuation without using ordinary contribution capsAnnual limits on some superannuation contributions. The sponsor's speech says downsizer contributions can be made without using the ordinary annual contribution caps.. This private senator's billA bill introduced by a senator who is not introducing it as a government minister. It can start debate but does not become law unless both houses pass it and it receives Royal Assent. would widen that existing tax-and-super pathway by lowering the age threshold, increasing the contribution cap and giving sellers more time after settlementThe point when a home sale is completed. The bill would give eligible sellers 12 months after settlement, rather than 90 days, to make a downsizer contribution..
- 2017-18
Existing downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement. policy begins
The incorporated second-reading speech says the original Coalition measure allowed eligible older Australians selling a family home to contribute sale proceeds into superannuation without using the annual contribution capsAnnual limits on some superannuation contributions. The sponsor's speech says downsizer contributions can be made without using the ordinary annual contribution caps..
Second reading speech ↗ - 14 Aug 2023
National housing debate turns toward supply
A collected public-context article reported that national cabinet would focus on removing bureaucratic hurdles to new housing supply rather than market interventions such as rent caps.
Australian Financial Review ↗ - 23 Oct 2024
Housing policy focus shifts from demand to supply
A collected Financial Review opinion article described Australian housing policy as moving away from demand-side help such as first-home buyer grants and toward supply-side measures.
Australian Financial Review ↗ - 21 May 2025
Housing supply forecasts remain short of target
A collected article reported the National Housing Supply and Affordability Council forecast Australia would build 938,000 homes to June 2029, 262,000 short of the 1.2 million-home target.
Australian Financial Review ↗ - 26 Nov 2025
Family homes downsizer bill introduced
The bill was introduced in the Senate. It proposed lowering the downsizer contributionA superannuation contribution made from the proceeds of selling an eligible home. This bill would widen who can use it, how much can be contributed and how long sellers have after settlement. eligibility age to 50, extending the post-settlementThe point when a home sale is completed. The bill would give eligible sellers 12 months after settlement, rather than 90 days, to make a downsizer contribution. contribution period to 12 months and increasing the contribution cap to $500,000.
Parliament of Australia ↗ - 08 May 2026
Downsizing incentives remain part of housing-supply debate
A collected article reported that almost 2 million Australian households planned to downsize in the next five years, and connected that trend to pressure on housing supply.
Australian Financial Review ↗
Legislative route
How did it move through Parliament?
House Senate
Introduced 26 Nov 2025
The private senator's billA bill introduced by a senator who is not introducing it as a government minister. It can start debate but does not become law unless both houses pass it and it receives Royal Assent. was introduced in the Senate. APH metadata identifies Senator Jane Hume as the sponsor.
Introduced and read a first time
Second reading opened 26 Nov 2025
Second-reading proceedings began, and an incorporated speech set out the case for expanding downsizer superannuation contributions.
Second reading moved
Key criticism
The main case against this bill
The collected material does not include later parliamentary debate from other parties, divisions, proposed amendments, committee scrutiny or a direct public critique of this specific bill. The main limitation in the record is evidentiary: the available sources show the sponsor's case for expanding downsizer contributions, but not whether the Senate accepted that case or how other parties responded.
This page does not infer parliamentary support or opposition beyond the collected sources. It also does not treat the sponsor's claims about housing supply or retirement income as proven outcomes; they are presented as the bill's stated rationale.
Further sources
Votes
Recorded votes
No recorded votes have been found yet for this bill.
Parliamentary debate
Who spoke, and what they said
Start here — lead voices
All speeches by bloc
Coalition
1 speaker · 1 support
Coalition
1 speaker · 1 support
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Wendy Askew ★ Senator Wendy Askew moved the second reading and incorporated a speech supporting the bill.
“This Bill broadens eligibility, streamlines the age requirements, and removes unnecessary administrative hurdles. It takes what was already a good policy and makes it more effective.”
Read the full speech in Hansard ↗
Record
Full record
- Status
- Before Senate -- Collected from the APH bill page.
- Originating house
- Senate
- Bill type
- Private senator's bill
- Sponsor
- Senator Jane Hume -- Collected from APH bill metadata and the bill cover page.
- Second reading speech
- Senator Wendy Askew -- The collected Hansard item records Senator Askew moving the second reading and incorporating the speech.
- 26 Nov 2025
Senate · Introduced and read a first time
Introduced
The private senator's billA bill introduced by a senator who is not introducing it as a government minister. It can start debate but does not become law unless both houses pass it and it receives Royal Assent. was introduced in the Senate. APH metadata identifies Senator Jane Hume as the sponsor.
- 26 Nov 2025
Senate · Second reading moved
Second reading opened
Second-reading proceedings began, and an incorporated speech set out the case for expanding downsizer superannuation contributions.