{"id":55360,"date":"2020-12-31T12:57:01","date_gmt":"2020-12-31T12:57:01","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=55360"},"modified":"2020-12-31T12:57:01","modified_gmt":"2020-12-31T12:57:01","slug":"economic-response-to-the-coronavirus-2","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/economic-response-to-the-coronavirus-2\/","title":{"rendered":"Economic Response to the Coronavirus"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"color: #000080;\">Economic Response to the Coronavirus<\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-55361\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/12\/Economic-Response-to-the-Coronavirus.png\" alt=\"Economic Response to the Coronavirus\" width=\"625\" height=\"452\" \/><\/p>\n<p><span style=\"color: #800000;\">Source:-<a style=\"color: #800000;\" href=\"https:\/\/treasury.gov.au\/coronavirus\/homebuilder\" target=\"_blank\" rel=\"noopener\">treasury<\/a><\/span><\/p>\n<p><span style=\"color: #000000;\">HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home. HomeBuilder assists the residential construction sector by encouraging the commencement of new home builds and renovations.<\/span><\/p>\n<p><span style=\"color: #000000;\">On 29 November 2020, the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/ministers.treasury.gov.au\/ministers\/josh-frydenberg-2018\/media-releases\/homebuilder-success-sees-programme-extended\" target=\"_blank\" rel=\"noopener\">Government announced an extension to the HomeBuilder program<\/a>\u00a0to 31\u00a0March\u00a02021.<\/span><\/p>\n<p><span style=\"color: #000000;\">Changes to the HomeBuilder program include:<\/span><\/p>\n<ul type=\"disc\">\n<li><span style=\"color: #000000;\">A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1\u00a0January\u00a02021 and 31\u00a0March\u00a02021, inclusive.<\/span><\/li>\n<li><span style=\"color: #000000;\">An extended deadline for all applications to be submitted, including those applying for the $25,000 grant and the new $15,000\u00a0grant. Applications can now be submitted up until 14\u00a0April\u00a02021 (inclusive). This will apply to all eligible contracts signed on or after 4\u00a0June\u00a02020.<\/span><\/li>\n<li><span style=\"color: #000000;\">An extension to the construction commencement timeframe from three months to six months for all HomeBuilder applicants. This will apply to all eligible contracts signed on or after 4\u00a0June\u00a02020.<\/span><\/li>\n<li><span style=\"color: #000000;\">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\u00a0January\u00a02021 and 31\u00a0March\u00a02021, inclusive.<\/span>\n<ul type=\"circle\">\n<li><span style=\"color: #000000;\">The existing new build property price cap of $750,000 will continue to apply in all other States and Territories.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #000000;\">A change in licensing requirements and registration for builders, as below:<\/span>\n<ul type=\"circle\">\n<li><span style=\"color: #000000;\">Where an eligible contract is signed on or after 29\u00a0November\u00a02020, the builder must have a valid licence or registration before 29\u00a0November\u00a02020.<\/span><\/li>\n<li><span style=\"color: #000000;\">Where an eligible contract is signed before 29\u00a0November\u00a02020, the builder must have a valid licence or registration before 4\u00a0June\u00a02020.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">Other than the above, the existing program criteria applies. That is, the other existing eligibility criteria remains in place and the $25,000\u00a0grant will still be available for eligible contracts signed on or before 31\u00a0December\u00a02020.<\/span><\/p>\n<p><span style=\"color: #000000;\">You can register to receive updates on HomeBuilder when more information is available through the form below.<\/span><\/p>\n<p><span style=\"color: #000000;\">A summary of the changes to HomeBuilder are outlined in the table below:<\/span><\/p>\n<table border=\"1\" cellspacing=\"1\" cellpadding=\"1\">\n<thead>\n<tr>\n<th><span style=\"color: #000000;\">HomeBuilder program criteria<\/span><\/th>\n<th><span style=\"color: #000000;\">Contracts signed between 4 June and 31 December 2020 (inclusive)<\/span><\/th>\n<th><span style=\"color: #000000;\">Contracts signed between 1 January and 31 March 2021 (inclusive)<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span style=\"color: #000000;\">Grant amount (new builds and substantial renovations)<\/span><\/td>\n<td><span style=\"color: #000000;\">$25,000<\/span><\/td>\n<td><span style=\"color: #000000;\">$15,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">Construction commencement timeframe<\/span><\/td>\n<td colspan=\"2\"><span style=\"color: #000000;\">Construction must commence within six months of the contract being signed.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">New build price cap<\/span><\/td>\n<td><span style=\"color: #000000;\">Property value cannot exceed $750,000<\/span><\/td>\n<td><span style=\"color: #000000;\">Property value cannot exceed:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">$950,000 in NSW;<\/span><\/li>\n<li><span style=\"color: #000000;\">$850,000 in Victoria; or<\/span><\/li>\n<li><span style=\"color: #000000;\">$750,000 in all other States and Territories.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">Substantial renovation price cap<\/span><\/td>\n<td colspan=\"2\"><span style=\"color: #000000;\">The value of the property cannot exceed $1.5 million (pre renovation).<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">Application deadline<\/span><\/td>\n<td colspan=\"2\"><span style=\"color: #000000;\">Applications must be submitted to the relevant State Revenue Office by 14 April 2021.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">Licensing requirements for builders\/developers<\/span><\/td>\n<td colspan=\"2\">\n<ul>\n<li><span style=\"color: #000000;\">Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020.<\/span><\/li>\n<li><span style=\"color: #000000;\">Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">Other eligibility criteria<\/span><\/td>\n<td colspan=\"2\"><span style=\"color: #000000;\">Existing program eligibility criteria remains.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"color: #000000;\">Fact sheets<\/span><\/h2>\n<table class=\"factsheets\">\n<tbody>\n<tr>\n<td><span style=\"color: #000000;\"><img decoding=\"async\" src=\"https:\/\/treasury.gov.au\/sites\/default\/files\/inline-images\/PDF-icon.png\" alt=\"PDF file\" data-entity-type=\"file\" data-entity-uuid=\"a99e47d3-5034-4e2f-8434-7eb54b5d6d9c\" \/><\/span><\/td>\n<td>\n<p class=\"factsheets_link\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/treasury.gov.au\/sites\/default\/files\/2020-12\/HomeBuilder_extension_factsheet.pdf\">HomeBuilder extension<\/a><\/span><br \/>\n<span style=\"color: #000000;\">Last updated: 16 December\u00a02020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\"><img decoding=\"async\" src=\"https:\/\/treasury.gov.au\/sites\/default\/files\/inline-images\/PDF-icon.png\" alt=\"PDF file\" data-entity-type=\"file\" data-entity-uuid=\"a99e47d3-5034-4e2f-8434-7eb54b5d6d9c\" \/><\/span><\/td>\n<td>\n<p class=\"factsheets_link\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/treasury.gov.au\/sites\/default\/files\/2020-12\/HomeBuilder_extension_FAQ.pdf\">HomeBuilder extension &#8211; Frequently asked questions<\/a><\/span><br \/>\n<span style=\"color: #000000;\">Last updated: 16 December\u00a02020<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"color: #000000;\">State and Territory contacts:<\/span><\/h2>\n<p><span style=\"color: #000000;\">HomeBuilder is administered by the States and Territories. You can apply for HomeBuilder through your relevant State or Territory Revenue office.<\/span><\/p>\n<p><span style=\"color: #000000;\">The Commonwealth does not process HomeBuilder applications. Queries about your application should be directed to the relevant State or Territory Revenue Office.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Australian Capital Territory<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the\u00a0<a style=\"color: #000000;\" title=\"External site: ACT Revenue Office\" href=\"https:\/\/www.revenue.act.gov.au\/covid-19-assistance\/homebuilder-grant\" target=\"_blank\" rel=\"noopener\">ACT Revenue Office<\/a>\u00a0website.<\/span><\/p>\n<h3><span style=\"color: #000000;\">New South Wales<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the HomeBuilder\u00a0<a style=\"color: #000000;\" title=\"External site: Revenue NSW\" href=\"https:\/\/www.revenue.nsw.gov.au\/grants-schemes\/homebuilder\/HomeBuilder-Grant-Application-and-Guide.pdf\" target=\"_blank\" rel=\"noopener\">guidelines<\/a>\u00a0and\u00a0<a style=\"color: #000000;\" title=\"External site: NSW application form\" href=\"https:\/\/www.firsthome.gov.au\/homebuilder\/nsw\/\" target=\"_blank\" rel=\"noopener\">application form<\/a>\u00a0available on the\u00a0<a style=\"color: #000000;\" title=\"External site: Revenue NSW\" href=\"https:\/\/www.revenue.nsw.gov.au\/grants-schemes\/homebuilder\" target=\"_blank\" rel=\"noopener\">Revenue NSW<\/a>\u00a0website. You can also contact Revenue NSW at\u00a0<a style=\"color: #000000;\" href=\"mailto:Home.Builder@revenue.nsw.gov.au\">Home.Builder@revenue.nsw.gov.au<\/a>\u00a0or call 1300\u00a0130\u00a0624.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Northern Territory<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the\u00a0<a style=\"color: #000000;\" title=\"External PDF: HomeBuilder Grant Application Form and Lodgement Guide\" href=\"https:\/\/treasury.nt.gov.au\/__data\/assets\/pdf_file\/0005\/916322\/HomeBuilder-Grant-Application-Form-and-Lodgement-Guide.pdf\" target=\"_blank\" rel=\"noopener\">HomeBuilder Grant Application Form and Lodgement Guide<\/a>\u00a0on the\u00a0<a style=\"color: #000000;\" title=\"External site: Northern Territory Revenue Office\" href=\"https:\/\/treasury.nt.gov.au\/dtf\/territory-revenue-office\/homebuilder-grant\" target=\"_blank\" rel=\"noopener\">Northern Territory Revenue Office<\/a>\u00a0website.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Queensland<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.qld.gov.au\/housing\/buying-owning-home\/financial-help-concessions\/homebuilder\">OSR\u00a0website<\/a>.<\/span><\/p>\n<h3><span style=\"color: #000000;\">South Australia<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the HomeBuilder\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.revenuesa.sa.gov.au\/grants-and-concessions\/homebuilder-grant\/HBG_Factsheet.pdf\">guidelines<\/a>\u00a0and\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.revenuesa.sa.gov.au\/grants-and-concessions\/homebuilder-grant\/HBGA.pdf\">application form<\/a>\u00a0available on the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.revenuesa.sa.gov.au\/grants-and-concessions\/homebuilder-grant\/HBGA.pdf\">RevenueSA website<\/a>.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Tasmania<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on the eligibility criteria, building and contract requirements and the application process for both grant programs, please refer to the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.sro.tas.gov.au\/Documents\/HomeBuilder-grants-guideline.pdf\" target=\"_blank\" rel=\"noopener\">HomeBuilder Grant Guidelines<\/a>\u00a0and the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.sro.tas.gov.au\/Documents\/HomeBuilder-grants-application.pdf\" target=\"_blank\" rel=\"noopener\">application form<\/a>\u00a0on the\u00a0<a style=\"color: #000000;\" title=\"External site: Tasmanian State Revenue Office\" href=\"https:\/\/www.sro.tas.gov.au\/about-us\/covid-19\" target=\"_blank\" rel=\"noopener\">State Revenue Office of Tasmania website<\/a>.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Victoria<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process, please refer to the HomeBuilder\u00a0<a style=\"color: #000000;\" title=\"External site: Victorian State Revenue Office\" href=\"https:\/\/www.sro.vic.gov.au\/homebuilder-grant-guidelines\" target=\"_blank\" rel=\"noopener\">guidelines<\/a>\u00a0and\u00a0<a style=\"color: #000000;\" title=\"External site: Victorian application form\" href=\"https:\/\/www.firsthome.gov.au\/homebuilder\/vic\/\" target=\"_blank\" rel=\"noopener\">application form<\/a>\u00a0available on the\u00a0<a style=\"color: #000000;\" title=\"External site: Victorian State Revenue Office\" href=\"https:\/\/www.sro.vic.gov.au\/owning-property\/australian-homebuilder-grant\" target=\"_blank\" rel=\"noopener\">State Revenue Office Victoria<\/a>\u00a0website.<\/span><\/p>\n<h3><span style=\"color: #000000;\">Western Australia<\/span><\/h3>\n<p><span style=\"color: #000000;\">For further information on eligibility and the application process please refer to the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.wa.gov.au\/government\/publications\/building-bonus-grant-and-homebuilder-grant-application-form\">application form<\/a>\u00a0on the\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.wa.gov.au\/service\/community-services\/grants-and-subsidies\/apply-new-home-construction-grant\">Revenue WA<\/a>\u00a0website.<\/span><\/p>\n<h2><span style=\"color: #000000;\">Preliminary application data<\/span><\/h2>\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-55361\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/12\/Economic-Response-to-the-Coronavirus.png\" alt=\"Economic Response to the Coronavirus\" width=\"625\" height=\"452\" \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<table border=\"1\" cellspacing=\"1\" cellpadding=\"1\">\n<thead>\n<tr>\n<th class=\"bg_blue\" colspan=\"4\" scope=\"col\"><span style=\"color: #000000;\">Total Applications as at 4\u00a0December\u00a02020<\/span><\/th>\n<\/tr>\n<tr>\n<th class=\"lg_blue\" scope=\"col\"><\/th>\n<th class=\"lg_blue\" scope=\"col\"><span style=\"color: #000000;\">New build<\/span><\/th>\n<th class=\"lg_blue\" scope=\"col\"><span style=\"color: #000000;\">Substantial renovations<\/span><\/th>\n<th class=\"lg_blue\" scope=\"col\"><span style=\"color: #000000;\">Total<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span style=\"color: #000000;\">NSW<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">3,768<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">1,981<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">5,749<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">VIC<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">8,462<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">1,817<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">10,279<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">QLD<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">6,804<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">1,262<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">8,066<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">WA<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">3,081<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">206<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">3,287<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">SA<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">2,603<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">461<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">3,064<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">TAS<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">849<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">148<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">997<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">ACT<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">594<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">286<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">880<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\">NT<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">129<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">13<\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\">142<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"color: #000000;\"><strong>Total<\/strong><\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\"><strong>26,290<\/strong><\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\"><strong>6,174<\/strong><\/span><\/td>\n<td align=\"right\"><span style=\"color: #000000;\"><strong>32,464<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"color: #000000;\">Data source: preliminary data reported by States and Territories; data is subject to revision by States and Territories.<\/span><\/p>\n<p><span style=\"color: #000000;\">Applications have not necessarily been assessed for eligibility.<\/span><\/p>\n<p><span style=\"color: #000000;\">Application processes may differ across States and Territories, limiting cross-state comparisons.<\/span><\/p>\n<p class=\"small\"><span style=\"color: #000000;\">*Date online applications opened: Tasmania (6 July); Western Australia (24 July); New South Wales, Victoria, Queensland, South Australia and the Northern Territory (9 August); Australian Capital Territory (14 August).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economic Response to the Coronavirus Source:-treasury HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home. HomeBuilder assists the residential construction sector by encouraging the commencement of new home builds and renovations. On 29 November 2020, the\u00a0Government announced an extension to the HomeBuilder [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":55361,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-55360","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economic Response to the Coronavirus - eLanka<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic Response to the Coronavirus\" \/>\n<meta property=\"og:description\" content=\"Economic Response to the Coronavirus Source:-treasury HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home. HomeBuilder assists the residential construction sector by encouraging the commencement of new home builds and renovations. 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