AAP General News (Australia)
04-22-2000
Vic: Home builder crisis leads to GST amnesty call
A financial crisis facing a major Victorian home builder has prompted a call for a
GST-amnesty for home-buyers whose homes-building's delayed by the crisis.
Avonwood, Victoria's fourth-biggest home builder, is in financial trouble after losing
the support of its financier.
It has about 500 homes under construction and orders for 430 more.
The Royal Australian Institute of Architects says up to 600 Victorian families could be affected.
They would face a GST of about $7,000 on the cost of building an average home if their
houses weren't completed by July 1.
They could also face paying tens of thousands of dollars extra to have their homes
eventually completed -- and would have to pay for somewhere else to live in the meantime.
AAP RTV sjg/sub
KEYWORD: AVONWOOD (MELBOURNE)
2000 AAP Information Services Pty Limited (AAP) or its Licensors.
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