If you’ve already heard about Australia’s new carbon tax you might be wondering whether or not it will impact your home improvement plans and by how much. While no one really knows just how much of an increase you’ll have to pay, read on for some information to help shed light on this issue for homeowners.
About the Carbon Tax
The carbon tax is going to be implemented by July 1, 2012. For some who are considering having a home extension, for instance, some are moving full steam ahead now in a effort to try to save money. The tax is going to progressively increase from the start date until 2015 when it changes to an emissions trading scheme. It’s said that there are about 500 Australian companies expected to shell out the price per tonne of emissions. Consumers won’t pay directly but will see an increase in pricing and this could impact how much it costs for your home extension. If you’re receiving a quote today, just to get a bit of an idea about how much your renovations (such as home extensions) will cost you, that quote may be quite different if you’re waiting until after the changes take place to get started on the work.
How Much Will it Cost?
If you’re building a new home, estimates from the HIA (http://www.hia.com.au) suggest that it could cost around $5K or $6K and this could translate to higher mortgage and interest payments for homeowners. But a renovation wouldn’t be as high, of course, and there isn’t a standard pricing scheme as it will depend on the type of renovation and how much materials your home extension needs. Instead of seeing an additional tax added to your quote, you’ll instead be paying more for the cost of materials. So, it’s not easy to estimate how much of an increase you’ll see on home renovation quotes after the tax is implemented. Home builders are strongly recommended to carefully price out jobs starting before the change in case they continue on after the tax is implemented as all material costs are expected to change.
A home extension could be a great way to make your home more livable. If you have the means to get going now, you could save considerable funds. If you’re conscientious about your own carbon footprint, you should know that your Perth home extension builder can help you make the most of materials and design elements so that your home extension is as environmentally friendly as possible.