Morrison Puts Up Cost of Renovations by 16.6% or $25,000

[Country Lad]

I dont see this as a waste of funds. Similar to first home buyers grants.

Going back to the @qldfrog comment that there is little cost to the government for the Homebuilder scheme, we see that the return to the government for the smallest allowed outlay is in the order of 90% or more. So for the larger projects the scheme pays for itself.
So even if only a small percentage of new construction is due to the scheme, it will likely have a positive return both to the government and for employment.

So I think it is a worthwhile scheme and if rorted by people bringing forward what the were going to build anyway, the nett benefit of the scheme has to be positive.

 

[willoneau]

The question I ask , is why does the reno have to be $150k?
I seriously thought of improving my home eg, insulation improvements and would have looked at renovating. But to spend 150K to get reimbursed 25K on a home already worth less than I paid for it , I think I will pass.

 

[SirRumpole]

The question I ask , is why does the reno have to be $150k?
I seriously thought of improving my home eg, insulation improvements and would have looked at renovating. But to spend 150K to get reimbursed 25K on a home already worth less than I paid for it , I think I will pass.

Yes, why not a percentage of the costs, $3000 for a $30,000 kitchen say.

 

[investtrader]

I always marvel at the prevailing gem of wisdom when it comes to politics -
(Almost) everyone knows better.
Must be a lot of stable geniuses out there.

 

[tech/a]

Yes, why not a percentage of the costs, $3000 for a $30,000 kitchen say.

In my view that's where you will see dishonesty.

150K means your going to build something substantial and you'll
get your kitchen plumbing Painting Tiler Carpets ----------
Its a substantial investment in the building industry.

 

[macca]

I like the idea, I think it is better thought out than the schools program that Rudd had.

That one was rather rushed and only went to approved builders so we ended up with a short supply of availability, this enabled overcharging, unfortunately.

By throwing this open to any licensed job > $150k it spreads it around Oz and means the $$$ will filter through all the trades and suppliers.

 

[wayneL]

I dont see this as a waste of funds. Similar to first home buyers grants.
NBN
Pink Batts
$750 hand outs
$3000 for a baby
They are / were wastes in my view.

And what is the cost if there is no stimulus.?

There will be a cost to the malinvested. The payoff is greater future growth. Pay off to the current stimulus is to stymie future growth.

There is also the resentment of some folks having the benefit of taxpayer largest with get others being left out in the cold.

This is not capitalism, nor is it socialism... It is a mixture of corporatism and electoral bribery... and a monumental dose of moral hazard.

They might, probably will, get away with kicking the can down the road once again this time. But the further the can gets kicked down the road, the more economic malaise that gets built-in for later.

... And western economies are going to need a sh1tload of powder dry for later on.

The best analogy that I can come up with is that our economies are addicted to heroin. Soothing the pain for now but overdose and death later.

 

[tech/a]

Wayne it’s a building stimulus
There will be others this is the
Most pressing issue and is being
Addressed. One thing at a time !

 

[wayneL]

Wayne it’s a building stimulus
There will be others this is the
Most pressing issue and is being
Addressed. One thing at a time !

Yeah, some are getting a stimulus at the expense of others, and at the expense of future growth.

 

[Kauri]

Yeah, some are getting a stimulus at the expense of others, and at the expense of future growth.

From The Chronicle newspaper at the end of April …. https://www.thechronicle.com.au/news/surprise-group-claiming-1500-jobkeeper/3998512/
According to the first snapshot of the employers applying for the wage subsidy, the biggest single industry group turns out to be white-collar workers and professionals including lawyers, barristers, accountants, and management consultants.
The new figures confirm more than 120,000 lawyers, barristers, accountants, and management consultants are leading the stampede to keep their staff in a job with the $1500 JobKeeper payment.

This was only an indication, as it was taken from those expressing initial interest.
I hope a stimulus package is directed to this, the biggest group, soon as they seem to be doing it tough!

 

[IFocus]

From The Chronicle newspaper at the end of April …. https://www.thechronicle.com.au/news/surprise-group-claiming-1500-jobkeeper/3998512/
According to the first snapshot of the employers applying for the wage subsidy, the biggest single industry group turns out to be white-collar workers and professionals including lawyers, barristers, accountants, and management consultants.
The new figures confirm more than 120,000 lawyers, barristers, accountants, and management consultants are leading the stampede to keep their staff in a job with the $1500 JobKeeper payment.

This was only an indication, as it was taken from those expressing initial interest.
I hope a stimulus package is directed to this, the biggest group, soon as they seem to be doing it tough!

Good to see you still around and have a pulse Kauri.

I have been wondering about the demographic getting free cash if its political or based on economics.

For anyone interested Michael West has some startling articles on his website about the massive funding to Coalition seats wouldn't be shocked if there was a bit of that in the stimulus.

Having said that if the costings are as above maybe this is a genus scheme, for the record happy to see funding flow to small and medium size businesses particularly if it flows through to employing and training apprentices.

 

[aus_trader]

darling dot coms to be attacked by President

Knobby22, can you please expand on this point ? I understood everything else.
Thx.

 

[aus_trader]

Obviously, if it takes 12 months to build, it cant be built this year, also if you sign a contract in December a house cant be built in a day.
The difference is, I didnt call you dumb, you called me it.

I think tradies are not going to pass up on this opportunity, even if they have to bulldoze anyone in the way

 

[frugal.rock]

Go figure.
Our mouldy house, holes in the ceiling where it leaks when it rains etc.
Imagine a fibro house metal roof, ex housing/ returned vet housing.
(Oh boy, the system doesn't look after our returned soldiers...)

So don't have the money, reluctant to even attempt finance without full time work.

When you get below the poverty line, well, let's just pretend the knee to the groin isn't painful.

 

[aus_trader]

Go figure.
Our mouldy house, holes in the ceiling where it leaks when it rains etc.
Imagine a fibro house metal roof, ex housing/ returned vet housing.
(Oh boy, the system doesn't look after our returned soldiers...)

So don't have the money, reluctant to even attempt finance without full time work.

When you get below the poverty line, well, let's just pretend the knee to the groin isn't painful.

I am with you FR !

I think the lower class has been clearly left out with all the stimulus schemes. First with the Job (S/K)eeper schemes where I have discussed with other members about how the part-timers, casuals, artists etc who got hit with their incomes didn't receive a dime of stimulus. With this home reno/build scheme it's the same, middle and better income owners could benefit but possibly not the lower end.

Anyway, no point complaining. So I decided to see if there was a way to possibly ride this wave to benefit my Speculative Stock Portfolio. Took a stab at a medium sized bank to hopefully see some upside.

 

[frugal.rock]

I remember getting quotes for an LPG system install in the car years ago, 6 months before they announced rebates.
Got some quotes again after rebates announced.
Quoted price had gone up... around the same amount as the rebate...

Builders eh, obviously the government has NFI of the levels of corruption in the industry.

Not complaining, but is it a well thought through idea?
Now, if ScoMo lent me the 150k, would I want to give it to a grubby builder, or do I want to be an owner builder... nah sorry, you have to use the formal corrupt system so it's easy come easy go for the builders.

I've paid over $15,000 in tobacco taxes the last 3 years.

ScoMo and Fries n Burger, you have lost touch with the Aussie battler.
I grew up with tobacco advertising etc in my face.
"Let's squeeze the life out of smokers" and give it to those middle and upper class people, for they have to pay for premium unleaded somehow in their new vehicles, and redo their 5th bathroom/ bedroom ensuite....

Haven't been to the doctor for a while, prefer not to. Hospital?
When I am dead or unconscious.

Faaaaaarrrrrrkkkk me.

 

[aus_trader]

I remember getting quotes for an LPG system install in the car years ago, 6 months before they announced rebates.
Got some quotes again after rebates announced.
Quoted price had gone up... around the same amount as the rebate...

Builders eh, obviously the government has NFI of the levels of corruption in the industry.

Not complaining, but is it a well thought through idea?
Now, if ScoMo lent me the 150k, would I want to give it to a grubby builder, or do I want to be an owner builder... nah sorry, you have to use the formal corrupt system so it's easy come easy go for the builders.

I've paid over $15,000 in tobacco taxes the last 3 years.

ScoMo and Fries n Burger, you have lost touch with the Aussie battler.
I grew up with tobacco advertising etc in my face.
"Let's squeeze the life out of smokers" and give it to those middle and upper class people, for they have to pay for premium unleaded somehow in their new vehicles, and redo their 5th bathroom/ bedroom ensuite....

Haven't been to the doctor for a while, prefer not to. Hospital?
When I am dead or unconscious.

Faaaaaarrrrrrkkkk me

Agree with all of the above Frugal, you Rock !

Only your last point I encourage to re-think. Go and see a Doctor even if it's just a check up, since you said you haven't been to one in a while. There's even online bookings you can do to find the nearest local clinics these days.

I just bought a small minimal size parcel of such a start up company that is rapidly growing, details also in spec portfolio thread.

 

[frugal.rock]

Only your last point I encourage to re-think. Go and see a Doctor even if it's just a check up, since you said you haven't been to one in a while. There's even online bookings you can do to find the nearest local clinics these days.

I just bought a small minimal size parcel of such a start up company that is rapidly growing, details also in spec portfolio thread.

A check up... haha.
For the left knee or the right?
Or the lower back and the broken floating spur?
Or for the soft tissue spot further up the back?
Or, or, or....

Ok, the left knee is about to collapse.
Might as well get in the surgery queue. I hate hospitals. They make you wish you were dead.
I hate the pain though also...

F.Rock

 

[frugal.rock]

The question I ask , is why does the reno have to be $150k?
I seriously thought of improving my home eg, insulation improvements and would have looked at renovating. But to spend 150K to get reimbursed 25K on a home already worth less than I paid for it , I think I will pass.

Same boat, to be able to spend the minimum $150k in a period like this, what are they thinking, while they sit on their laurels in their ivory tower finery?

With a range $150k to 800,000 to benefit, and in pandemic pandemonium, even people who may normally have the money or access to via finance, don't get to use the opportunity.

I was hoping to build a granny flat and renovate the shack and hobble along till paid off.
Finance now!?
Hahahaha, hahahaha, hahaha, hmmmm!

Is it just me?
Am I divorced from reality?

 

[qldfrog]

Same boat, to be able to spend the minimum $150k in a period like this, what are they thinking, while they sit on their laurels in their ivory tower finery?

With a range $150k to 800,000 to benefit, and in pandemic pandemonium, even people who may normally have the money or access to via finance, don't get to use the opportunity.

I was hoping to build a granny flat and renovate the shack and hobble along till paid off.
Finance now!?
Hahahaha, hahahaha, hahaha, hmmmm!

Is it just me?
Am I divorced from reality?

2 ways of seeing that:
It is a measure which does not actually cost money to the gov between the gst and extra payg.
But it offers
Good headlines... support for tradies ..who have not been affected by the virus so do not actually need it

Reno wise, it is not really s support for reno but one for new buildings
Either brand new or full major gutting
It is a new building incentive and we are all tricked by the renovation word
I agree 150k for me is not a reno my last reno for a kitchen was 20k including major restructure. And most job done by qldfrog .