Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Duniam for his contribution to the Defence Home Ownership Assistance Scheme Amendment Bill 2022. The bill demonstrates the commitment the Albanese Labor government made to boost homeownership for Defence members and veterans and to assist veterans transitioning from military to civilian life. As part of the government's election commitment, the bill will amend the Defence Home Ownership Assistance Scheme and expand access to it by providing Defence members with access to benefits earlier in their careers. The qualifying period will be reduced to two years for serving members and to four years for reservists.

The bill will also allow veterans to apply for their final subsidy certificate at any time after they have separated from the Australian Defence Force by removing the current five-year limitation. This will ensure veterans can access the scheme at a time that suits them, without feeling pressured to do so in a set period. These amendments will mean better outcomes for Defence members, veterans and their families, and will reinforce the government's commitment to retention in the Australian Defence Force, to homeownership for members and veterans, and to the wellbeing of members and veterans.

The bill will also help our Defence personnel and veterans with the cost-of-living pressures that all Australians are feeling with regard to housing, which are making it increasingly difficult to achieve the great Australian dream of homeownership. Labor created the Defence Home Ownership Assistance Scheme, and now the Albanese Labor government is expanding it. I commend the bill to the Senate.

Question agreed to.

Bill read a second time.