Scheme announced in wake of Bondi beach terror attack will launch in November, with costs shared between NSW and commonwealth
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New South Wales will become the first state to commence Australia’s biggest gun buyback in 30 years, with the state and federal governments agreeing to share the costs of the scheme in response to the Bondi beach terror attack.
Anthony Albanese and the Minns government said the buyback would begin in two phases from 2 November, with costs evenly split between the state and the commonwealth.
Under the first phase of the scheme, $1,000 will be paid for revolvers and $850 for semi-automatic handguns. Compensation of $850 will be paid for double-barrel shotguns and $650 for those with a single barrel.
Between $650 and $1,000 will be paid for rifles, while air rifles have a fixed compensation of $450.
“We must do everything we can to make sure the antisemitic terrorist attack in Bondi doesn’t happen again. That includes meaningful nationwide gun reform,” the prime minister said.
“I thank the New South Wales government for their collaboration as we work to take guns off our streets in order to better protect Australians.”
The federal and NSW governments said phase 2 of the scheme would begin in early 2027, and provide “a pathway to compensation” for “eligible higher-value firearms with an indicative market value above $3,000, capped at $10,000 per firearm”.
The federal government had announced the creation of the buyback scheme in the wake of the deadly terrorist attack at Sydney’s Bondi beach on 14 December 2025, in which two gunmen allegedly killed 15 people.
NSW also tightened the state’s gun laws in response to the shooting. The new laws restrict the number of guns an individual can own to four, with exceptions for farmers and professional shooters, who are restricted to 10.
The laws also reclassified some weapons, including banning firearms that allow multiple shots without reloading.
NSW police will administer the state’s buyback, which will compensate individuals for surrendering firearms that exceed the new ownership limits or which have been reclassified.
The buyback scheme will also provide financial assistance for businesses and industry to adjust to the reforms.
A government spokesperson said the commonwealth would contribute 50% for administration costs, and fully fund the destruction costs for surrendered firearms and administration.
