New South Wales has announced plans to implement a gun buyback scheme, making it the first Australian state to offer financial compensation for surrendering firearms. The initiative follows a deadly attack at a Jewish festival in the Bondi Beach area that resulted in 15 fatalities. Gun owners will be eligible to exchange handguns, shotguns, and rifles for cash payments beginning in November.
Under the program’s structure, compensation amounts will vary based on firearm type and value. For example, owners surrendering a revolver will receive AUS$1,000, while an air rifle will be valued at AUS$450. The buyback will unfold across two phases, with the initial phase launching in November and covering standard firearms. A second phase scheduled for early next year will address higher-value weapons exceeding AUS$3,000, with maximum payouts capped at AUS$10,000.
The scheme targets individuals who exceed the state’s new firearm ownership limits or whose licenses no longer cover their existing weapons. Recent reforms have restricted most individuals to owning four firearms, though exceptions exist for farmers and sports shooters permitted to own up to ten. Additionally, license terms have been shortened from five years to two years.
Funding for the National Gun BuyBack Scheme comes from both the New South Wales government and federal authorities. Support measures also extend to businesses and gun dealers transitioning to the new regulatory environment, with businesses eligible to receive up to AUS$25,000 in assistance. State Premier Chris Minns suggested the initiative could result in hundreds of thousands of weapons being surrendered and destroyed. Prime Minister Anthony Albanese characterized the reforms as essential measures to prevent future violence, describing them as part of a broader nationwide gun reform effort.
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