– Concessions apply to BTR developments that commence construction after 1 July 2020.
– The concession is available from the 2021 land tax year.
– A significant proportion of the construction labour force hours must involve work by certain classes of workers: apprentices, trainees, graduates, long term unemployed workers, workers requiring upskilling, workers with barriers to employment or Aboriginal job seekers.
– The concessions are provided until 2040.
– Developers that subdivide within 15 years of receiving the concessions will be required to repay the benefit.
For more info visit – https://lnkd.in/gQ4hSXe
Treasurer Guidelines – https://lnkd.in/gHkBG8d