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Following the Bondi Beach attack, National Cabinet agreed to strengthen firearms laws nationally. The Commonwealth announced a National Gun Buyback Scheme on 19 December and legislated the funding framework through the Combating Antisemitism, Hate and Extremism (Firearms and Customs Laws) Act 2026, in force from 22 January 2026.

New South Wales is the first state to commence the scheme, with buyback costs shared 50:50. The Commonwealth funds half of administration costs and all destruction costs, with the Australian Federal Police responsible for destroying surrendered firearms. NSW Police administers the scheme, which is expected to run initially for 12 months. It follows the NSW Terrorism and Other Legislation Amendment Act 2025, which capped ownership at four firearms for most licence holders and ten for primary producers and sporting shooters, reclassified some firearm types, and cut licence periods from five years to two.

Phase 1 compensation. From 2 November 2026, licence holders above their new limit can surrender firearms against a fixed schedule, plus a flat fee for ammunition:

• Centrefire rifle and revolver: $1,000

• Semi-automatic handgun and double-barrel shotgun: $850

• Single-barrel shotgun: $650

• Rimfire rifle: $600

• Air rifle: $450

Industry support. Grants of up to $25,000 for eligible businesses and dealers, and one-off licence fee relief worth $500 over two years per dealer, available from 2 November 2026.

Phase 2. From early 2027, a paid pathway opens for firearms with an indicative market value above $3,000, capped at $10,000 per firearm.

The ACT: A second agreement, announced 21 August 2026, has the Commonwealth funding 75 per cent of ACT compensation and administration costs and all destruction costs. The Territory has about 23,000 firearms and more than 7,000 licence holders, roughly 14 per cent of whom may be affected.

Key Figures

• Up to 274,000 registered firearms affected in NSW, about 24 per cent of the state's registered stock

• Approximately 50,000 NSW licence holders affected

• $450 to $1,000 fixed compensation per firearm in Phase 1

• Up to $10,000 per firearm in Phase 2 for firearms valued above $3,000

• Costs shared 50:50 with NSW and 75:25 with the ACT, plus 100 per cent of destruction costs in both

Sources

1. NSW first to get national gun buyback underway, NSW Government, 16 August 2026

2. Albanese Labor Government will establish a National Gun Buyback Scheme, Prime Minister of Australia, 19 December 2025

3. National Gun Buyback Scheme, Department of Home Affairs

4. National partnership delivers ACT firearms buyback and stronger community protections, Prime Minister of Australia, 21 August 2026

5. NSW premier pledges 'toughest gun laws of any state' in buyback scheme, ABC News, 16 August 2026