A sign that the Government should have extended the Scheme to include retirement villages and LLCs?
Treasury has revealed to the Senate’s COVID-19 select committee that several weeks into the grants – which provides $25,000 to successful applicants to build or renovate their home – only 247 applications have been received.
“As of 7 August, South Australia had received 157 applications, Tasmania had received, by the 4 August, 90 applications, and those are [all] the applications that have been received to date,” Jenny Wilkinson, Treasury’s fiscal group deputy secretary, said.
“To date, no payments have been made…because the criteria for payment hasn’t occurred.”
The Government had forecast 27,000 Australians will eventually build or renovate their homes using the grants.
Only SA and Tasmania have submitted their data so far – so the numbers may be larger – but the figures suggest the criteria – which requires projects to be worth more than $150,000 – is too narrow to attract interest.
Participants also don’t get the cash until construction is underway – so there is no guarantee that applications won’t be knocked back.
