FIFO families to boost WA’s building recovery
Interstate fly-in, fly-out (FIFO) workers relocating to Western Australia will share in the $117 million Building Bonus package recently announced by the McGowan Government.
Eastern states-based FIFO workers will be able to access the $20,000 Building Bonus grant, which is available to any homebuyer who wishes to build a new house in Western Australia.
“Interstate FIFOs play a key part in building our state, and it is an ideal time for them to enjoy the WA lifestyle, bring up their kids safely and cut their travel time by living in the state in which they work,” Premier Mark McGowan said.
“Western Australia is a great place to live. We expect by offering the Building Bonus to these workers, it will provide even more incentive for these workers to make the move to WA, and build a new home.
The grant is available for new homes that will be built throughout WA, ensuring that FIFO families will be able to choose the location and lifestyle that best suits them. Grants are available until December 31, 2020.
With the closure of WA’s interstate borders in March, some mining and petroleum companies have already assisted hundreds of workers and their families to relocate to WA.
Paul Everingham, Chief Executive of peak resources industry group, the Chamber of Minerals and Energy of WA (CME), said a number of its members were also offering attractive incentives to encourage interstate FIFO workers to permanently relocate to WA to complement the federal and state government’s home building stimulus packages.
“These incentives offered by companies include relocation financial assistance, mortgage payment support and assistance to travel to their state of origin once or twice a year. In addition, many companies will provide a regional living allowance to encourage workers to reside in the communities in which their company operates. The resources sector is keen to see more jobs in the State as we emerge from COVID-19 with a focus on supporting WA’s economic recovery,” Mr Everingham said.
The $20,000 grant builds on the Commonwealth Government’s announcement to provide $25,000 for some owner-occupiers who build a new home.
This means those Western Australians who are eligible for the Commonwealth grant, could receive up to $45,000 for new residential builds.
“It’s no surprise to Western Australians that COVID-19 has had an immediate and serious impact on confidence and activity in the residential building sector,” said Mr McGowan.
“My Government has worked with the Commonwealth on these measures to ensure our incentives will drive confidence, stimulate activity and keep thousands of Western Australians in jobs.”
“By relocating to Western Australia permanently, we can further support Western Australian small businesses and continue to grow our economy as we continue the recovery form the COVID-19 pandemic.”
The McGowan Government has also expanded the 75 per cent off-the-plan transfer duty, capped at $25,000, to the purchase of residential unit or apartments, in a multi-tiered development, where construction has commenced. This package is valued at $7 million, and will be in place until December 31, 2020.
In addition, the State government is investing $319 million investment to build, buy and renovate public housing across the State, bringing the total commitment for COVID-19 stimulus and relief measures to $2.3 billion.
The residential building sector is an important part of the state’s economy, employing an estimated 66,000 people and accounting for $5.2 billion in Gross State Product in 2018-19.