The Property Investment Professionals of Australia (PIPA) and Master Builders Australia, both key players in the property and construction landscapes, have praised the Federal Government for extending the JobKeeper packages. The Federal Government has announced that the JobKeeper program will be extended until the end of March next year, but with reduced fortnightly payments and stricter eligibility criteria.

PIPA Chairman Peter Koulizos likens the impact of the coronavirus to the GFC of a decade ago and says because similar initiatives were applied during the GFC, Australia avoided a recession by keeping people employed. “The extension, as well as the continuance of mortgage repayment pauses, will benefit homeowners, landlords and tenants who continue to need financial support over coming months,” he says. Denita Wawn, CEO of Master Builders Australia agrees, saying: There’s no doubt that JobKeeper continues to be lifeline for thousands of small builders and tradies as well as many in the building supply chain. The continuing easier accessibility for sole traders to access the scheme is also important”.