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But what should it include.
Government stimulus package construction. To help the economy and keep the construction industry moving forward through the covid 19 pandemic the australian government has announced a 17 6 billion economic stimulus package. A 17 6 billion economic stimulus package should help construction companies brace themselves for the impact of coronavirus. More home buyer grants on the way the federal.
A 15 000 grant for building contracts new builds and substantial renovations signed between 1 january 2021 and 31 march 2021 inclusive. As a result of this construction businesses have been able to access a range of measures that support apprentices reduce the cost of running a business and stimulate housing activity. The abc understands a package worth over 1 billion is set to be announced with means tested grants focused on residential construction and renovations.
Changes to the homebuilder program include. The government is considering a housing stimulus package that would extend grants to include home renovations as a way to help tradespeople weather the slowdown according to a report in the. We recognise that it s a long supply chain treasurer josh frydenberg said on monday.
On 29 november 2020 the government announced an extension to the homebuilder program to 31 march 2021. Small and medium sized. Hia has developed the information below to assist members understand the eligibility requirements and other key elements of the homebuilder package.
Federal government homebuilder stimulus package november 29 2020 on 4 june the federal government announced the homebuilder stimulus package. Construction industry advocacy groups welcomed the package which increased the asset write offs threshold for businesses earning more than 500 million and accelerated depreciation deductions. 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.
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