25k Stimulus Package How To Apply

They can then apply for the homebuilder stimulus through their state or territory revenue office.

25k stimulus package how to apply. The federal government will give eligible australians 25 000 to build or substantially renovate their homes in an effort to boost demand in the construction sector and keep builders employed. An increase to the property price cap for new build contracts in new south wales and victoria to 950 000 and 850 000 respectively where the contract is signed between 1 january 2021 and 31 march. Officials will conduct checks and once all the criteria are met they will transfer the cash directly into the applicant s chosen bank account.

To access the grant applicants must pay a licensed builder the first instalment for starting work. An extension to the construction commencement timeframe from three months to six months for all homebuilder applicants. Property developers have welcomed the short term stimulus package as an opportunity for a cross section of buyers and a jolt of momentum for the market.

This article relates to the federal government s first coronavirus stimulus package announced on march 12 2020. Stephanie vanin general manager of residential sales at stockland said the early read from the house and land developer had been really positive. Here we unpack the detail of this to help you understand if you can access the 25k grant.

In the stimulus package signed into law last month the national ban on evictions was extended through january and a 25 billion pot of money was established for renters struggling amid the health. Join more than 15 000 savvy subscribers and get. This week the federal government has announced a new homebuilder stimulus package.