Federal government introduces HomeBuilder scheme
In the wake of the COVID-19 pandemic and Australia entering its first recession in 29 years, the federal government has introduced the HomeBuilder scheme, aimed at supporting the building and construction industry.
It will give eligible Australians up to $25,000 in grants towards certain works on a property that eclipse $150,000. It will be means-tested to ensure couples making over $200,000 and individuals making over $125,000 annually will be excluded.
“HomeBuilder will be a lifeline for an industry facing a valley of death in the coming months. It will mean more new homes, more small businesses and jobs are protected and provide a stronger bridge to economic recovery for our country,” Master Builders Australia chief executive Denita Wawn says.
“Based on the government’s estimated 27,000 grants, we think the scheme will be used for $10 billion in building activity, supporting the viability of 368,000 small builders and tradies – the businesses which employ 800,000 people in communities around Australia.”
By supporting tradies, the grants will also boost the cafes, pubs and ute dealerships that they frequent on top of the many in the building supply chain.
“The eligibility criteria mean that the vast majority of Australians will be able to access the scheme. More than 80% of households have income of $200,000 or less,” Denita explains.
“The building industry is simply too important to the economy and living standards to allow to collapse. It is the nation’s second largest industry, provides the most full-time jobs, trains the most apprentices and is 98% made up of small businesses. Master Builders welcomes the government’s HomeBuilder scheme.”