A buyer could have to pay GST on a ‘substantially renovated’ home, but there’s often uncertainty about whether a renovation counts as substantial or not. A simple test could resolve the issue.
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Articles on Renovations
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As with any major financial decision, you need to understand how the renovation fits with your broader life goals. Why do you want to do it?
Almost 8 million Aussie homes lack sufficient insulation, use sub-par heating and cooling equipment, or are badly designed. These homes account for 18% of Australia’s emissions.
A suite of proposed changes to energy efficiency section of the National Construction Code are a good step forward. However, a lot more can be done.
As an ex-financial counsellor and former consumer credit educator for ASIC, here are the questions I’d encourage you to ask yourself to help you decide how much to spend on a home renovation.
An architect and a therapist share tips for improving your home without sacrificing your relationship.
In a study of people receiving community care, home modifications liberated them to live at home safely and independently. Hours of care were cut by 42% and quality of life improved by 40%.
It’s not easy to choose between the costly hassle of renovating and the expensive upheaval of selling up, and buying a new property.
There has never been a better time for public money to go into improving the performance of Australian housing. We could have cut household bills and emissions, as well as saving construction jobs.
It’ll have to fund tens of thousands of homes that were going to be built anyway before it creates a single extra house.
Top contributors
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Associate Professor, School of Property, Construction and Project Management, RMIT University
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Professor, School of the Built Environment, University of Technology Sydney
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Program Director, Economic Policy, Grattan Institute
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Associate Professor, School of the Built Environment, University of Technology Sydney
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Senior Lecturer in Urban and Environmental Planning, Griffith University
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Lecturer in Finance, University of Canberra
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Associate Professor, School of the Built Environment, University of Technology Sydney
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Senior Lecturer, School of Property, Construction and Project Management, RMIT University
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Associate Professor of Architecture, University of Technology Sydney
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Erika Bartak is a Friend of The Conversation.
PhD Candidate (& ESD Consultant), Melbourne School of Design, The University of Melbourne
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Dalla Lana Fellow, University of Toronto
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Senior Lecturer, Griffith University
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Senior Industry Fellow, RMIT University
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Lecturer in Law, Federation University Australia
