May 2021 UPDATE

As previously advised, construction has been completed for some weeks now for Stages 2,3 & 4. The compliance process is progressing well with around 80%, now, completed, there are just a few remaining items to be ticked off with the various authorities which the developer expect to be finalized in the next couple of weeks. Once this happens it will then be over to the titles office to issue titles which we are now expecting will happen towards the end of this month or early in June 2021. As the title release is now approaching rapidly please ensure that you have all your finances in place ready to go as once titles are issued you are required to settle within 14 days of your conveyance being notified that titles have been issued. All the best to those who have applied for the $25,000 or $15,000 grant, as we mentioned the GREAT NEWS last month for Alexander Park HomeBuilder Grant applicants. The government has extended the construction commencement requirement from 6 months to 18 months from the date of signing your building contract. See a summary from the Australian Government Treasury with the relevant links for your reference below.

HomeBuilder forms part of a range of Australian Government initiatives intended to support confidence in the residential construction sector and encourage consumers to proceed with purchases or renovations that may have been delayed due to uncertainty around the effects of the COVID-19 pandemic.

Applications for HomeBuilder closed at midnight, Wednesday 14 April 2021. Supporting documentation can still be submitted after an application has been lodged. All supporting documentation must be submitted to the relevant State or Territory Revenue Office by no later than 30 April 2023.

On 17 April 2021, the Government announced it would extend the construction commencement requirement from six months to 18 months for all applications (i.e. for all contracts signed 4 June 2020‑31 March 2021 inclusive).'

The next UPDATE will be as soon as we are advised that the compliance process is complete.

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