Victorians’ appeal to extend the federal government’s $25,000 HomeBuild plan was approved.
The preliminary plan of the plan stipulates that applicants should start construction within three months after signing the contract. According to the fourth phase of COVID-19 restrictions, national tax experts have extended the period by six months.
Although the extension will not change the planned end date (December 31), it does mean that buyers who sign the contract before the end of the year must start construction before June 31, 2021. The Victorian Chief Executive of the Australian Urban Development Institute said that Victoria and the federal government should have made such a decision long ago.
However, she warned that if the six-week ban is to be extended, further intervention is needed to expand the grant program to ensure that Victorians have fair access. Starting at 11:59 pm on Friday, Melbourne’s construction industry will be severely restricted, limiting the number of people required to construct new houses to five people.
https://www.realestate.com.au/news/homebuilder-extended-in-victoria-due-to-stage-four-lockdown/