Date: 23 April 2025
Source: Parliament of Victoria
Jurisdiction: Victoria

Abstract:

The Help to Buy (Commonwealth Powers) Act 2025 was assented to on 8 April 2025.

The Help to Buy (Commonwealth Powers) Act 2025 (Vic) integrates the Help to Buy Act 2024 (Cth) into Victorian law, facilitating a shared equity scheme aimed at assisting low and middle-income earners in purchasing residential property. The Help to Buy scheme is administered by Housing Australia and the Commonwealth will be providing financial contributions to help individuals buy homes.

The Act:

• adopts specific provisions of the Commonwealth Act under section 51(xxxvii) of the Constitution;
• reserves Victoria’s ability to terminate its participation in the scheme if desired, without affecting existing shared equity arrangements;
• refers legislative power to the Commonwealth Parliament for amendments (but only to the extent necessary for the operation of the Help to Buy scheme, ensuring that Victoria's legislative powers are not overridden);
• allows the Victorian Minister to object to a matter (eg, proposed regulations or legislative instruments under the Commonwealth Act), providing a mechanism for the State to influence the implementation of the scheme; and
• makes consequential amendments to existing Victorian laws, including…