As Australia gears up for the 2025 federal election, young Australians find themselves at the heart of the political conversation. From housing affordability and tax cuts, to student loans and Medicare reform, the issues dominating this year’s campaign speak directly to the challenges and aspirations of a new generation of voters. With the election set for May 3, the decisions made at the ballot box will have lasting consequences on the social and economic landscape that young Australians are inheriting.

There are two major parties campaigning to lead the country: the Labor government, led by current Prime Minister Anthony Albanese, and the the Liberal-National Coalition, led by Peter Dutton. While both parties claim to have young Australians’ interests in mind, their policies and priorities differ significantly. Unsure which party to cast your vote for? Below, we're break down where both parties stand, and what their platforms could mean for young Australians in the 2025 federal election and beyond.

Housing and home ownership

The Labor government has made several promises to improve opportunities for young Australians to enter the property market. First, Albanese has proposed expanding the existing First Home Buyers Guarantee, which currently allows those earning under $125,000 a year for singles or $200,000 for couples to obtain a mortgage with only a 5% deposit. For context, typically a 20 per cent deposit to buy a house, otherwise buyers are required to purchase Lenders' Mortgage Insurance, which adds thousands onto the cost of buying a home. Under the proposal, this scheme would expanded to include every Australian looking to buy their first home, no matter their income. Second, the Labor government has also pledged to invest $10 billion in building 100,000 new homes that would only be available to first home buyers.

When it comes to the Coalition, Peter Dutton has promised to allow first time buyers of newly built homes to deduct part of the interest paid on their mortgage from their income taxes. This will only apply to the interest payments earned on the first $650,000 of the mortgage. While there is no limit to the price of the property (or the cost of the mortgage), eligibility for the scheme would be capped at an income of $175,000 for singles and $250,000 for couples, and is only available while the recipient is living in the home in question.

Cost of living and taxes

Both parties have made significant pledges in relation to tax cuts. The Labor government has proposed an automatic and receipt-free $1000 tax deduction, designed to benefit all workers at tax time. “No paperwork, no box of receipts, no scrolling through your online banking – just tick the box and your return is ready,” Albanese said when announcing the scheme.

They've also premised their campaign on progressive tax cuts, which work by reducing the bottom tax bracket from 16% to 15% in 2026, and again to 14% in 2027. This scheme will benefit every Australian taxpayer relatively: for example, a worker earning $45,000 or more a year will benefit by $268 in the first year and $536 in the following years.

On the other hand, the coalition has pledged a one-off $1200 tax offset, which is aimed at providing cost-of-living reprieve to Australians earning up to $144,000.

Mental health

Another topic dominating this year's campaign circuit is the relationship between mental health and social media. Both parties are aligned on legislation that restricts access to social media apps like Instagram and TikTok to young people under the age of 16.

Taking things one step further, Labor has pledged $1 billion to improving mental health services, which would include new and upgraded Medicare mental health centres, improved Headspace services, 20 specialist centres for young people with complex needs, and more training centres for mental health professionals.

Elsewhere, the coalition has pledged a $400 million investment into youth mental health services, and has promised to expand the National Centre for Excellence in Youth Mental Health. At the centre of this proposal is an aim to address what's called the "missing middle" — a cohort of young people who have serious mental illness, but don't require admission to a hospital. This might include personality disorders and eating disorders. The coalition have promised to expand early psychosis youth services from eight regions to 20, expand the capacity of existing Headspace centres, and reinstate the 20 Medicare-subsidised psychology sessions per year.

Education and student debt

Both parties have outlined differing approaches to addressing student debt, each reflecting their unique policy priorities. Labor wants to raise the minimum income threshold for graduates to start repaying student loan debts to $67,000. They've also promised to cut 20% off all student loans — a measure that's designed to combat the effects of high inflation in recent years.

The coalition is yet to put out a comprehensive plan relating to education and student debts, however they have proposed incentives for employers to hire and train apprentices, with a target of 400,000 apprentices and trainees in training should they be elected to government. Specifically, small and medium business will receive $12,000 if they put a new apprentice in a "critical skills area."

Medicare and women's health

Both parties have established plans to make healthcare more affordable, particularly as it relates to women and young people. Labor's scheme includes investing $8.5 billion in Medicare, to make nine out of 10 GP appointments bulk-billed by the end of the decade. It will also spend $690 million towards lowering the cost of PBS-listed medicines, and adding new medications to the scheme. Concerning women's health, Labor wants to expand Medicare rebates for long-acting contraceptives, such as the IUD, while also expanding endometriosis and pelvic pain clinics, and funding training for specialists in menopause.

The coalition has promised to match Labor's $8.5 billion investment in Medicare, as well as their $573 million boost to women's healthcare, and the $690 million promise to reduce costs of PBS-listed medicines. If elected, they will conduct a $5 million review into women's healthcare, to close gaps in services and identify medications that should be subsidised.

Feature image via Pinterest.